Technical Analysis for AMZZ - GraniteShares 2x Long AMZN Daily ETF

Grade Last Price % Change Price Change
B 28.10 0.59% 0.17
AMZZ closed up 1.59 percent on Friday, May 3, 2024, on 51 percent of normal volume. The stock exhibited some range contraction during this trading session as price made an NR7 -- narrowest range of the last seven sessions.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Weak or Absent N/A N/A Up

Date Alert Name Type % Chg
NR7 Range Contraction 0.59%
Narrow Range Bar Range Contraction 0.59%
Gapped Up Strength 0.59%
Up 3 Days in a Row Strength 0.59%
Crossed Above 20 DMA Bullish 2.19%
180 Bullish Setup Bullish Swing Setup 2.19%
Inside Day Range Contraction 2.19%
Gapped Up Strength 2.19%
20 DMA Resistance Bearish 8.94%
Gapped Up Strength 8.94%

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GraniteShares 2x Long AMZN Daily ETF Description

AMZZ is a short-term tactical tool that aims to deliver 2x the price return, less fees and expenses, for a single day of Amazon stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the 2x multiple. Aside from the leverage, compared to traditional ETFs, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending and holders are on the positive corresponding side of that trade. However, the shares provide the advantage of capping the maximum loss to the full amount invested.


Classification

Keywords: Exchange Traded Fund Financial Regulation Short Term Tactical Tool

Is AMZZ a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 29.38
52 Week Low 22.46
Average Volume 54,993
200-Day Moving Average 0.00
50-Day Moving Average 0.00
20-Day Moving Average 26.73
10-Day Moving Average 26.01
Average True Range 1.36
RSI (14) 58.85
ADX 20.32
+DI 26.88
-DI 24.81
Chandelier Exit (Long, 3 ATRs) 25.31
Chandelier Exit (Short, 3 ATRs) 26.53
Upper Bollinger Bands 29.38
Lower Bollinger Band 24.08
Percent B (%b) 0.73
BandWidth 19.85
MACD Line -0.03
MACD Signal Line -0.14
MACD Histogram 0.1161
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 28.79
Resistance 3 (R3) 28.85 28.62 28.64
Resistance 2 (R2) 28.62 28.41 28.59 28.59
Resistance 1 (R1) 28.28 28.27 28.17 28.22 28.55
Pivot Point 28.05 28.05 28.00 28.02 28.05
Support 1 (S1) 27.71 27.84 27.60 27.65 27.31
Support 2 (S2) 27.48 27.70 27.45 27.27
Support 3 (S3) 27.14 27.48 27.22
Support 4 (S4) 27.08