Direxion Daily MRVL Bull 2X ETF (MRVU)

Direxion Daily MRVL Bull 2X ETF is trading at $70.20, down 25.26% on the session. The 50 day average sits at $126.51 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 38.3, which reads as weak, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $87.69 with resistance near $125.76, so that band frames the current range. Average daily movement is roughly $16.88, or about 24.1% of the share price, which is what any stop placement has to allow for. The overall health score of 31 out of 100 combines a trend score of 52, momentum of 26 and a risk score of 6.

The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the securities of MRVL and financial instruments, such as swap agreements and options, that, in combination, provide 2X daily leveraged exposure to MRVL, consistent with the fund’s investment objective. It is non-diversified.