Graniteshares 2x Long TSLA Daily ETF (TSLR)

Graniteshares 2x Long TSLA Daily ETF is trading at $17.14, up 10.51% on the session. The 50 day average sits at $17.48 and the 200 day at $24.15, which puts the stock in a downtrend. RSI is at 48.8, which reads as neutral, and MACD is bullish crossover. Volume is below average.

The nearest support is around $11.51 with resistance near $17.17, so that band frames the current range. Average daily movement is roughly $1.18, or about 6.9% of the share price, which is what any stop placement has to allow for. The overall health score of 35 out of 100 combines a trend score of 0, momentum of 78 and a risk score of 30.

The fund is an actively managed ETF that attempts to replicate 2 times (200%) the daily percentage change of 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; 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.