Direxion Daily S&P 500 Bear 1X Shares (SPDN)

Direxion Daily S&P 500 Bear 1X Shares is trading at $8.49, up 0.41% on the session. The 50 day average sits at $8.69 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 35.3, which reads as weak, and MACD is bearish crossover. Volume is below average.

The nearest support is around $8.38 with resistance near $8.77, so that band frames the current range. Average daily movement is roughly $0.09, or about 1.1% 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 32, momentum of 30 and a risk score of 96.

The index is designed to be comprised of stocks that are the 500 leading, large-cap U.S.-listed issuers. The fund invests at least 80% of the fund’s net assets in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short daily exposure to the index or to ETFs that track the index, which, in combination, provider returns consistent with the objective. It is non-diversified.