Weighing Risks And Opportunities With Direxion's 2X Leveraged Oil ETFs
Portfolio Pulse from Joshenomoto@benzinga.com
Chevron and Exxon Mobil saw slight pre-market gains after last week's losses due to economic concerns. Direxion's leveraged oil ETFs, GUSH and DRIP, offer opportunities for bullish and bearish investors, respectively. GUSH is below key moving averages, while DRIP has gained due to falling oil prices.
September 09, 2024 | 12:08 pm
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POSITIVE IMPACT
DRIP ETF gained over 15% last week due to falling oil prices, but faces resistance between $12 and $13.
DRIP has benefited from declining oil prices, gaining over 15% last week. However, it faces resistance, which could limit further gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Chevron saw slight pre-market gains after last week's losses due to economic concerns impacting oil prices.
Chevron's stock is reacting to broader economic concerns affecting oil prices. The slight pre-market gain suggests a neutral short-term impact as the market digests economic data.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Exxon Mobil experienced slight pre-market gains as it attempts to recover from last week's losses amid economic concerns.
Exxon Mobil's stock is similarly affected by economic concerns impacting oil prices. The slight pre-market gain indicates a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Diamondback Energy is a top holding in the GUSH ETF, which is currently under pressure due to broader market conditions.
As a top holding in GUSH, Diamondback Energy is indirectly affected by the ETF's performance, which is under pressure from market conditions.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
GUSH ETF is below key moving averages, indicating potential challenges for bullish investors despite long-term support at $27.
GUSH is trading below its 50-day and 200-day moving averages, suggesting bearish sentiment. The $27 support level is crucial for potential recovery.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Matador Resources is a top holding in the GUSH ETF, which is currently under pressure due to broader market conditions.
As a top holding in GUSH, Matador Resources is indirectly affected by the ETF's performance, which is under pressure from market conditions.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Permian Resources is a top holding in the GUSH ETF, which is currently under pressure due to broader market conditions.
As a top holding in GUSH, Permian Resources is indirectly affected by the ETF's performance, which is under pressure from market conditions.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60