Graniteshares 2x Short NVDA Daily ETF (NVD)

Graniteshares 2x Short NVDA Daily ETF is trading at $4.55, up 11.25% on the session. The 50 day average sits at $3.87 and the 200 day at $5.32, which puts the stock in a downtrend. RSI is at 56.5, which reads as strong, and MACD is bullish crossover. Volume is above average.

The nearest support is around $3.82 with resistance near $4.14, so that band frames the current range. Average daily movement is roughly $0.20, or about 4.5% of the share price, which is what any stop placement has to allow for. The overall health score of 52 out of 100 combines a trend score of 23, momentum of 86 and a risk score of 52.

The fund is an actively managed exchange traded fund that attempts to replicate 2x the inverse (-200%) daily percentage change of the underlying stock by entering into financial instruments such as swaps and options on the underlying stock; at the end of each trading day, the notional exposure against the underlying stock obtained through the combination of these instruments will be approximately -200% of the fund’s net asset value. It is non-diversified.