GraniteShares 2x Long COIN Daily ETF

The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Coinbase Global, Inc. Class A. The Fund is an actively managed ETF that attempts to achieve its investment objective by entering into a swap agreement on the Underlying Stock.

Technical Observation (on the daily chart):

CONL's stock has recently broken out of a symmetrical triangle pattern, indicating the possibility of further short-term gains. This optimistic view is supported by the 14-day Relative Strength Index (RSI), which has climbed above 50, signalling growing buying momentum. Additionally, the CONL’s price has regained its position above the 21-day Simple Moving Average (SMA), likely serving as a short-term support level. In the near term, key support and resistance levels will function as potential demand and supply zones.

Individuals can evaluate the ETF based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the ETFs has not been considered in the decision-making process. Other factors which could impact the ETF prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Technical Indicators Defined: -

Support: A level at which the ETF prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the ETF and if the price breaches the level, then Support 2 may act as the crucial support level for the ETF.

Resistance: A level at which the ETF prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the ETF and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the ETF.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the ETF prices.

Past performance is neither an indicator nor a guarantee of future performance.

The reference date for all price data, currency, technical indicators, support, and resistance levels is Feb 13, 2025 (12:40 pm EST). The reference data in this report has been partly sourced from REFINITIV.

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar

Note: Trading decisions require a thorough analysis by individual. Technical reports in general chart out metrics that may be assessed by individuals before any ETF evaluation. The above are illustrative analytical factors used for evaluating ETFs; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.