(NVDL) GraniteShares 1.5x Long DA - Ratings and Ratios

The GraniteShares 1.5x Long NVDA Daily ETF (NASDAQ:NVDL) is an actively managed exchange-traded fund that seeks to deliver 1.5 times (150%) the daily return of NVIDIA Corporation (NVDA) stock. To achieve this, the fund engages in various financial instruments, including swap agreements, options, and direct purchases of NVDA stock, with a primary reliance on swap agreements for notional exposure. As a non-diversified fund, its performance is closely tied to the daily movements of NVDA stock.

Given its nature as a leveraged ETF, NVDL is designed for short-term trading rather than long-term investment. It is suited for traders seeking to capitalize on the daily volatility of NVDA stock, amplifying their exposure to the stocks daily price movements. The funds use of swap agreements and other derivatives allows it to achieve its leveraged exposure, but it also introduces counterparty risk and other complexities that traders should be aware of.

Analyzing the provided data, we can infer that NVDL has significant resistance levels at $73.7, $68.5, and $62.8, and support levels at $47.2, $42.6, and $37.5. Given the current price of $58.06, as indicated in the , the ETF is positioned between its support and resistance levels, suggesting potential for both upward and downward movement. The proximity to the $62.8 resistance level indicates a potential hurdle to further upside, while the support levels provide a cushion against significant downturns.

Combining insights from and , we observe that NVDLs last price is $58.06, with a 20-day Simple Moving Average (SMA20) of $53.03, indicating a recent uptrend. The 200-day Simple Moving Average (SMA200) is $57.77, slightly below the current price, suggesting a longer-term bullish trend. The Average True Range (ATR) of 3.19, or 5.50%, indicates moderate volatility. With an Assets Under Management (AUM) of $3791.37M USD, the fund has a substantial size, potentially offering liquidity to traders.

Forecasting NVDLs future performance involves analyzing both technical indicators and fundamental data. Given NVDAs recent trends and the overall tech sector momentum, if NVDA continues to rise, NVDL is likely to follow suit, potentially breaking through its resistance levels. However, the leveraged nature of NVDL means it is also more susceptible to sharp declines if NVDA stock falters. Traders should closely monitor NVDAs price movements and adjust their strategies accordingly. Based on the current technical setup and assuming a continued positive trend in NVDA, a potential target for NVDL could be the $62.8 resistance level, with a risk of retreating to the $47.2 support level if the trend reverses.