Etching Out Gains Pre-Bell, Shares Pick Up Momentum: MicroSectors FANG+ Index -2X Inverse Leveraged ETN (:FNGZ)

MicroSectors FANG+ Index -2X Inverse Leveraged ETN (:FNGZ) shares are gapping higher 14.73% pre-market with a price of $7.20 on the stock.  Investors will be keeping a close eye on the stock during this session to see if the upward trend will remain throughout the day.

Trying to project the day to day short-term movements of the stock market may be all but impossible. Stocks have the tendency to make sudden moves on even the slightest bit of news or for apparently no reason at all. The daily trader may be looking to capitalize on swings or momentum, but the long-term investor may be searching for stability and consistency over a sustained period of time. During trading sessions, stock movements can seem like a popularity contest from time to time. Even after careful study, there may be no logical reason for a particular stock move. Riding out the waves of uncertainty may not be easy, but having a full-proof plan for when markets erode may just be the savior. Having the patience to wait out abnormal moves may help evade the mistake of letting go too soon out of panic. 

Taking a look at several key technical indicators, the stock’s price is $7.20 and their relative strength index (RSI) stands at 50.36.  

Checking on current price levels compared to prior highs and lows, we have seen that MicroSectors FANG+ Index -2X Inverse Leveraged ETN (:FNGZ) was recently trading -28.50% away from the 50-day high and 24.35% removed from the 50-day low. Taking a wider view, the current separation from the 52-week high is -84.82%, and the distance from the 52-week low is presently 24.35%.

Since the beginning of the calendar year, MicroSectors FANG+ Index -2X Inverse Leveraged ETN (:FNGZ)’s stock has changed -77.26%. Over the last five trading sessions, the stock has moved -3.27%. For the past month, MicroSectors FANG+ Index -2X Inverse Leveraged ETN’s stock has been -12.21%, -44.15% for the last quarter, -80.35% for the past six months and -85.84% for the past 52 weeks.

Investors may be getting ready to buy into the stock market as we cruise into the second half of the year. Filtering out the constant noise in the markets can be challenging. Sifting through all the data can be trying, especially for the novice investor. Digging down into the fundamentals may help weed out the undesirable companies. Investors will most likely be scouting out the equity market for any bargains. Although they may be harder to find these days, there still may be a hidden gem out there somewhere. As companies start to report quarterly earnings, investors will be closely following to see which ones are poised for success over the next few quarters. 

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