Defiance Daily Target 2X Short QBTS ETF (QBTZ)

Defiance Daily Target 2X Short QBTS ETF is trading at $3.26, up 11.54% on the session. The 50 day average sits at $4.48 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 38.2, which reads as weak, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $2.78 with resistance near $4.65, so that band frames the current range. Average daily movement is roughly $0.69, or about 21.1% 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 25, momentum of 26 and a risk score of 24.

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.