GraniteShares 2x Long SpaceX Daily ETF (SPAL)

GraniteShares 2x Long SpaceX Daily ETF is trading at $17.09, down 5.79% on the session. The 50 day average sits at $16.48 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 46.5, which reads as neutral, and MACD is bearish crossover. Volume is below average.

The nearest support is around $15.91 with resistance near $17.34, so that band frames the current range. Average daily movement is roughly $1.55, or about 9.1% of the share price, which is what any stop placement has to allow for. The overall health score of 52 out of 100 combines a trend score of 72, momentum of 50 and a risk score of 24.

The fund will aim to primarily obtain its notional exposure against the Underlying Stock through swap agreements. The fund manager has adopted a policy to have at least 80% of its investment exposure to financial instruments with economic characteristics that should have 2 times the performance of the Underlying Stock.