Direxion Daily Semiconductor Bear 3X Shares (SOXS)

Direxion Daily Semiconductor Bear 3X Shares is trading at $53.45, up 20.68% on the session. The 50 day average sits at $41.82 and the 200 day at $171.34, which puts the stock in a downtrend. RSI is at 57, which reads as strong, and MACD is bullish crossover. Volume is below average.

The nearest support is around $42.32 with resistance near $52.22, so that band frames the current range. Average daily movement is roughly $4.04, or about 7.6% 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 27, momentum of 88 and a risk score of 22.

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.