GraniteShares 2x Long IONQ Daily ETF (IONL)

GraniteShares 2x Long IONQ Daily ETF is trading at $11.65, down 7.72% on the session. The 50 day average sits at $16.71 and the 200 day at $26.18, which puts the stock in a downtrend. RSI is at 42.4, which reads as weak, and MACD is bearish crossover. Volume is below average.

The nearest support is around $10.15 with resistance near $19.56, so that band frames the current range. Average daily movement is roughly $2.16, or about 18.5% of the share price, which is what any stop placement has to allow for. The overall health score of 14 out of 100 combines a trend score of 0, momentum of 38 and a risk score of 4.

The fund is an actively managed exchange traded fund that attempts to replicate 2 times (200%) daily percentage change of the underlying stock by entering financial instruments such as swaps and options on the underlying stock as well as directly purchasing the underlying stock. The fund is non-diversified.