Direxion Daily SpaceX Bull 2X ETF (LOFF)

Direxion Daily SpaceX Bull 2X ETF is trading at $16.29, down 1.33% on the session. The 50 day average sits at $n/a and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 48, which reads as neutral, and MACD is bullish crossover. Volume is average.

The nearest support is around $9.58 with resistance near $26.18, so that band frames the current range. Average daily movement is roughly $2.43, or about 14.9% of the share price, which is what any stop placement has to allow for. The overall health score of 47 out of 100 combines a trend score of 50, momentum of 68 and a risk score of 12.

The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the securities of SpaceX and financial instruments, such as swap agreements and options, that, in combination, provide 2X daily leveraged exposure to SpaceX, consistent with the fund’s investment objective. It is non-diversified.