Direxion Daily Energy Bear 2X E (ERY)

Direxion Daily Energy Bear 2X E is trading at $9.08, down 2.68% on the session. The 50 day average sits at $11.48 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 33, which reads as weak, and MACD is bearish crossover. Volume is below average.

The nearest support is around $9.47 with resistance near $11.21, so that band frames the current range. Average daily movement is roughly $0.47, or about 5.2% 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 28, momentum of 20 and a risk score of 58.

The index is provided by S&P Dow Jones Indices and includes domestic companies from the energy sector which includes the following industries: oil, gas and consumable fuels; and energy equipment and services. The fund invests at least 80% of the fund’s 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.