TREND1
6 years ago
Direxion Daily Brazil Bull 3X ETF Phone: 866-476-7523 Fund Summary The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the MSCI Brazil 25/50 Index. The fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the index and/or financial instruments that provide leveraged and unleveraged exposure to the index.
The index is designed to measure the performance of the large and mid cap segments of the Brazil equity market, covering approximately 85% of the free float-adjusted market capitalization in Brazil.
The fund is non-diversified
THREE-DAY-TRADER
10 years ago
Support is low of 4.62 (& 4.53 pre-market actual lowest), and BRZU traded downward all day until market close nearly testing that level. Trading is now at critical juncture around minimal support (not "4.70"), so I don't share your enthusiasm for presumed ultimate bottom here.
Anything can happen here, and in my analysis and experience, it is best to error toward chances likely it drops more to new low yet.
RSI is showing oversold --- I agree, but that is more of a general technical & certainly does not determine where this bottoms.
RSI could have been used for argument of being oversold for over a week already, and since then this has dropped.
Be cautious here and not presume too much it has bottomed yet, whcih is my view here.