GraniteShares 2x Long BABA Daily ETF (BABX)

GraniteShares 2x Long BABA Daily ETF is trading at $17.23, up 0.50% on the session. The 50 day average sits at $19.04 and the 200 day at $26.39, which puts the stock in a downtrend. RSI is at 49.2, which reads as neutral, and MACD is bullish crossover. Volume is above average.

The nearest support is around $16.46 with resistance near $17.33, so that band frames the current range. Average daily movement is roughly $0.97, or about 5.6% of the share price, which is what any stop placement has to allow for. The overall health score of 33 out of 100 combines a trend score of 3, momentum of 67 and a risk score of 34.

The fund is an actively managed exchange traded fund that attempts to replicate 2 times (200%) the daily percentage change of the underlying stock by entering financial instruments such as swaps and options on the underlying stock as well as directly purchasing the underlying stock. It is non-diversified.