KBAB:NASDAQKraneShares 2x Long BABA Daily ETF analysis

KraneShares 2x Long BABA Daily ETF trades at $6.62, with its short-term moving averages sitting below the longer-term ones — a bearish trend structure. The last 30 days have lost 14.6%. Relative strength is 35.5 — approaching oversold — and the MACD signal is bearish. The recent range runs from support at $6.43 up to resistance at $9.62.
The 0.99% expense ratio is middling for its category, and the fund manages $2.9M in assets.
Risk comes out at 8 of a possible 10, a high reading. With 30-day volatility of 87.3%, a beta of 2.37 and a maximum drawdown of 86.6%, position sizing matters more than entry timing here. Thin trading volumes mean execution costs can be material on larger orders. The wider market backdrop reads extreme greed at 93 on the fear-greed composite.
Near-term and long-term part ways here — sell short-term against hold longer out, with 2/10 conviction on the long call.