Direxion Daily S&P Biotech Bear 3X Shares (LABD)

Direxion Daily S&P Biotech Bear 3X Shares is trading at $6.78, up 2.57% on the session. The 50 day average sits at $7.90 and the 200 day at $15.53, which puts the stock in a downtrend. RSI is at 42.2, which reads as weak, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $5.91 with resistance near $6.78, so that band frames the current range. Average daily movement is roughly $0.61, or about 9.0% of the share price, which is what any stop placement has to allow for. The overall health score of 15 out of 100 combines a trend score of 0, momentum of 26 and a risk score of 22.

The fund, under normal circumstances, invests at least 80% of the fund’s net assets in financial instruments, including swap agreements, futures contracts, or short positions, 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 designed to measure the performance of the biotechnology sub-industry based on the GICS. The fund is non-diversified.