Direxion Daily Energy Bear 2X Shares (ERY)

Direxion Daily Energy Bear 2X Shares is trading at $7.84, up 1.95% on the session. The 50 day average sits at $8.95 and the 200 day at $11.65, which puts the stock in a downtrend. RSI is at 32.6, which reads as weak, and MACD is bearish crossover. Volume is below average.

The nearest support is around $7.63 with resistance near $9.10, so that band frames the current range. Average daily movement is roughly $0.35, or about 4.4% of the share price, which is what any stop placement has to allow for. The overall health score of 25 out of 100 combines a trend score of 0, momentum of 22 and a risk score of 68.

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.