Defiance Daily Target 2X Short IONQ ETF (IONZ)

Defiance Daily Target 2X Short IONQ ETF is trading at $2.49, up 7.79% on the session. The 50 day average sits at $3.50 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 35.5, which reads as weak, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $1.99 with resistance near $2.80, so that band frames the current range. Average daily movement is roughly $0.57, or about 22.8% of the share price, which is what any stop placement has to allow for. The overall health score of 31 out of 100 combines a trend score of 41, momentum of 26 and a risk score of 22.

The fund is an actively managed exchange traded fund that attempts to achieve 2 times the inverse (-200%) of the daily percentage change in the price of the underlying security by employing derivatives, namely swap agreements and/or listed options contracts. The fund is non-diversified.