WEBL, the Direxion Daily Dow Jones Internet Bull 3x Shares ETF has performed well in 2023, gaining +111.35% since their 52-week low in November of 2022 (there is no distribution yield).
Much of their success is attributed to larger technology companies, which have been a haven of sorts for investors flocking after the momentum generated by the AI craze & into traditional trusted giants in a year marked by uncertainty.
Some of WEBL’s largest holdings include Amazon (9.4%), Alphabet – Class A (5.53%), Cisco (5.37%), Salesforce (5.28%), Alphabet – Class C (4.83%), Netflix (4.77%), PayPal Holdings (3.56%), AirBnB (2.86%) & Snowflake (2.86%).
The Price:Volume analysis below seeks to display the volume at specific share-price levels from over the past one-to-two years & is intended to serve as a reference point for how investors viewed WEBL ETF’s value at each level.
It also includes a list of moving averages, as well as support & resistance levels, which will be marked in bold.
WEBL, The Direxion Daily Dow Jones Internet Bull 3x Shares ETF’s Price:Volume Sentiment Broken Down
Their RSI is neutral at 53.27, with their MACD bearish after consolidating over the past week & a half.
Recent trading volumes have been below average compared to the year prior, signaling uncertainty among investors & showing waning enthusiasm after the impressive gains of May 2023.
The 10 day moving average will act as an important level of support/resistance, as you can note in the chart that many of the shadows of daily candlesticks have brushed up against it on either side
The bold prices on the image below denote the moving average levels just listed & the bold entries in the list form of the analysis under the images include other levels of support.
Each corresponding price level using a ratio of Buyers:Sellers (or Sellers:Buyers), NULL values denote that there was not enough data, so the ratio would’ve been 0:0.
Ratios with a 0 for the denominator/constant are denoted with an *, but are reported as is, as we are accounting for volume/sentiment.
Also, as there is such a wide spread between many price levels having activity data, many of the levels are marked NULL, as there was limited volume data for them, and they were not included in the long list below unless they were relevant to support/resistance levels.
Direxion Daily Dow Jones Internet Bull 3x Shares WEBL ETF’s Volume By Price Level
$35 – Buyers – 0.1:0*, +230% From Current Price
$33 – Sellers – 0.1:0*, +211% From Current Price
$32 – Buyers – 0.4:0*, +202% From Current Price
$31 – Even – 1:1, +192% From Current Price
$30 – Sellers – 0.1:0*, +183% From Current Price
$29 – Sellers – 0.3:0*, +173% From Current Price
$28 – Buyers – 0.1:0*, +164% From Current Price
$27 – Sellers – 0.1:0*, +154% From Current Price
$26 – Buyers – 0.2:0*, +145% From Current Price
$25 – Sellers – 0.1:0*, +136% From Current Price
$23 – Sellers – 0.2:0*, +117% From Current Price
$21 – Sellers – 0.1:0*, +98% From Current Price
$20 – Sellers – 0.1:0*, +89% From Current Price
$19 – Even – 1:1, +79% From Current Price
$17 – Sellers – 0.1:0*, +60% From Current Price
$16.50 – Sellers – 0.1:0*, +56% From Current Price
$15.50 – Sellers – 0.2:0*, +46% From Current Price
$14 – Even – 1:1, +32% From Current Price
$13.50 – Even – 1:1, +27% From Current Price
$13 – Buyers – 3.33:1, +23% From Current Price
$12.50 – Buyers – 4.5:1, +18% From Current Price
$12 – Buyers – 2.75:1, +13% From Current Price
$11.50 – Sellers – 1.13:1, +8% From Current Price
$11 – Buyers – 2.5:1, +4% From Current Price – 10 Day Moving Average
$10.50 – Buyers -4.5:1, -1% From Current Price
$10 – Buyers – 1.64:1, -6% From Current Price
$9.50 – Buyers – 1.03:1, -10% From Current Price
$9 – Sellers – 1.59:1, -15% From Current Price – 50 Day Moving Average
$8.50 – Sellers – 1.12:1, -20% From Current Price
$8 – Buyers – 1.02:1, -25% From Current Price
$7.50 – Even – 1:1, -29% From Current Price – 200 Day Moving Average
$7 – Buyers – 1.11:1, -34% From Current Price
$6.50 – Buyers – 1.19, -39% From Current Price
$6 – Sellers – 2.07:1, -43% From Current Price
$5.50 – Sellers – 1.13:1, -48% From Current Price
Tying It All Together
The list & image above paint the picture as to how investors & traders have behaved at various price levels that WEBL has been at over the past one-to-two years.
It is not meant to serve as investment/trading advice, and is simply a way to visualize what investor/trader sentiment has been like at each of the price levels mentioned, as well as what it was at levels of support & resistance that are denoted in the image & list.
As always, do your own due diligence before making investing/trading decisions.
For more on the methodology on how the data was collected & put together, please refer to our original Price:Volume analysis.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN WEBL AT THE TIME OF PUBLISHING THIS ARTICLE ***