(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 achieve 1.5 times (150%) the daily return of NVIDIA Corporation (NVDA) stock. To accomplish 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 performance of NVDA.

From a trading perspective, NVDLs categorization under Trading--Leveraged Equity ETFs indicates its designed for investors seeking amplified exposure to NVDAs daily movements. This makes it a potentially attractive option for traders with a short-term focus and a bullish outlook on NVDA. Key Performance Indicators (KPIs) to monitor for NVDL include its tracking efficiency, i.e., how closely it follows 1.5 times NVDAs daily returns, and its expense ratio, which affects net returns. Additionally, the funds reliance on derivatives and leverage may result in higher volatility and potential decay over time due to compounding effects.

Support and resistance levels are crucial for traders. NVDLs identified support levels range from $79.0 down to $52.8, indicating potential buying opportunities or areas where the price might stabilize. Conversely, a resistance level at $84.1 suggests a potential ceiling where selling pressure may increase. Monitoring these levels can help traders make informed decisions about entry and exit points.

Given its AUM of $4.562 billion, NVDL has a substantial asset base, which can indicate liquidity and investor interest. However, the size and the non-diversified nature of the fund also mean that its performance is heavily dependent on NVDAs stock performance. Therefore, market sentiment, news, and technical trends related to NVDA are critical factors that can influence NVDLs price movements.