Direxion Daily Semiconductor Bear 3X Shares (SOXS)

Direxion Daily Semiconductor Bear 3X Shares is trading at $45.26, up 17.99% on the session. The 50 day average sits at $46.96 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 31.2, which reads as weak, and MACD is bullish crossover. Volume is below average.

The nearest support is around $37.50 with resistance near $51.40, so that band frames the current range. Average daily movement is roughly $11.44, or about 25.3% of the share price, which is what any stop placement has to allow for. The overall health score of 40 out of 100 combines a trend score of 41, momentum of 44 and a risk score of 34.

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 is a rules-based, modified float-adjusted market capitalization-weighted index that tracks the performance of the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.