GraniteShares 2x Long NOW Daily ETF (NOWL)

GraniteShares 2x Long NOW Daily ETF is trading at $3.63, down 8.79% on the session. The 50 day average sits at $7.60 and the 200 day at $6.29, which puts the stock in a uptrend. RSI is at 26.2, which reads as oversold, and MACD is bearish crossover. Volume is volume spike.

The nearest support is around $3.52 with resistance near $7.03, so that band frames the current range. Average daily movement is roughly $0.92, or about 25.4% of the share price, which is what any stop placement has to allow for. The overall health score of 39 out of 100 combines a trend score of 46, momentum of 34 and a risk score of 34.

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