Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP)

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is trading at $36.53, down 0.71% on the session. The 50 day average sits at $46.77 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 35.8, which reads as weak, and MACD is bearish crossover. Volume is above average.

The nearest support is around $37.14 with resistance near $45.95, so that band frames the current range. Average daily movement is roughly $2.43, or about 6.7% of the share price, which is what any stop placement has to allow for. The overall health score of 28 out of 100 combines a trend score of 28, momentum of 20 and a risk score of 40.

The index measures the performance of the domestic companies included in the integrated oil and gas, oil and gas exploration and production and oil and gas refining and marketing sub-industries as classified by the GICS. The fund invests at least 80% of its net assets in financial instruments, that, in combination, provide 2X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. It is non-diversified.