Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP)

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is trading at $35.34, down 1.29% on the session. The 50 day average sits at $44.18 and the 200 day at $58.39, which puts the stock in a downtrend. RSI is at 36.9, which reads as weak, and MACD is bullish crossover. Volume is average.

The nearest support is around $33.76 with resistance near $45.95, so that band frames the current range. Average daily movement is roughly $1.94, or about 5.5% 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 0, momentum of 46 and a risk score of 34.

The index measures the performance of the domestic companies included in the integrated oil and gas, oil and gas exploration and production and oil and gas refining and marketing sub-industries as classified by the GICS. The fund invests at least 80% of its net assets in financial instruments, that, in combination, provide 2X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. It is non-diversified.