Defiance Daily Target 2x Short

The Fund seeks daily inverse investment results of -2.0 times (-200%) the daily percentage change of the common stock of MicroStrategy Incorporated. The Fund is an actively managed exchange traded fund that attempts to achieve 2 times the inverse of the daily percentage change in the price of the Underlying Securities.

Technical Observation (on the daily chart): 

SMST has been in a prolonged consolidation phase and is now starting to show signs of potential upward movement, indicating a positive outlook. However, it may continue to consolidate further before making a significant rise. The 14-day Relative Strength Index (RSI) is currently positioned favorably, although it may experience a slight decline. Moreover, SMST's price is intersecting its 21-day Simple Moving Average (SMA), which is likely to act as a temporary support level during any upcoming volatility. This scenario could create a solid foundation for further consolidation before the price begins its next upward movement.

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. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is March 10, 2025 (13:10 am EST). The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Note 4: ‘Kalkine reports are prepared based on the prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.