Direxion Financial Bear 3X ETF (FAZ)

Direxion Financial Bear 3X ETF is trading at $31.55, down 1.13% on the session. The 50 day average sits at $35.92 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 33.5, which reads as weak, and MACD is bullish crossover. Volume is above average.

The nearest support is around $30.44 with resistance near $34.14, so that band frames the current range. Average daily movement is roughly $1.06, or about 3.4% of the share price, which is what any stop placement has to allow for. The overall health score of 44 out of 100 combines a trend score of 25, momentum of 51 and a risk score of 63.

The fund invests at least 80% of the fund’s net assets in financial instruments, that, in combination, provide 3X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. The index includes securities of companies from the following industries: financial services; insurance; banks; capital markets; mortgage real estate investment trusts (“REITs”); and consumer finance. It is non-diversified.