Defiance Daily Target 2X Short QBTS ETF (QBTZ)

Defiance Daily Target 2X Short QBTS ETF is trading at $30.01, up 20.38% on the session. The 50 day average sits at $17.74 and the 200 day at $84.55, which puts the stock in a downtrend. RSI is at 79, which reads as overbought, and MACD is bullish crossover. Volume is below average.

The nearest support is around $20.85 with resistance near $35.18, so that band frames the current range. Average daily movement is roughly $2.13, or about 7.1% of the share price, which is what any stop placement has to allow for. The overall health score of 43 out of 100 combines a trend score of 39, momentum of 78 and a risk score of 0.

The management has adopted a policy to have at least 80% of fund's net assets, plus borrowings for investment purposes, in financial instruments with economic characteristics that should provide 2 times the inverse exposure to the daily performance of the underlying security. For purposes of the 80% policy, derivatives will be valued at notional value. The fund is non-diversified.