A Potential Calm Before The Storm Could Draw Intrigue In Direxion's NVDU And NVDD Funds
Portfolio Pulse from Joshenomoto@benzinga.com
Nvidia's stock has seen a decline, impacting Direxion's leveraged ETFs, NVDU and NVDD. While NVDA's growth has slowed, partnerships like the one with Alibaba offer potential. NVDU has gained significantly this year but slowed recently, while NVDD has struggled but shows recent interest.
September 24, 2024 | 12:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The Direxion Daily NVDA Bear 1X Shares ETF has struggled, losing 66% since January. However, it has risen over 6% in the past month, showing potential interest despite being below key moving averages.
NVDD has been underperforming but recent gains suggest potential interest. Its position below key moving averages indicates a challenging environment, but recent performance may attract attention.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The Direxion Daily NVDA Bull 2X Shares ETF has gained over 220% this year but has slowed recently, gaining only 21.5% in the past six months. It is currently between its 50-day and 200-day moving averages.
NVDU's performance has been strong this year, but recent momentum has slowed. The ETF's position between key moving averages suggests a neutral short-term outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Nvidia's stock has declined recently, losing 2% in the past five days and 8% over the past month. Despite a slowdown in growth, Nvidia's partnership with Alibaba offers potential opportunities.
Nvidia's stock decline is due to a slowdown in growth and temporary exhaustion. However, the partnership with Alibaba could provide future opportunities, though the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80