(FBL) GraniteShares 1.5x Long - Ratings and Ratios

The GraniteShares 1.5x Long Meta Daily ETF (NASDAQ:FBL) is a leveraged equity ETF designed to provide 1.5x daily exposure to the performance of Meta Platforms, Inc. (formerly Facebook, Inc.). The fund achieves this through swap agreements with major financial institutions, which allow it to replicate the returns of the underlying stock on a leveraged basis. These agreements can span from one day to more than a year, enabling the fund to maintain its targeted leverage on a daily basis. The ETF is structured for short-term trading opportunities, as the leverage resets daily and may not perform as expected over longer periods due to compounding effects.

From a technical perspective, FBL is currently trading below its 20-day and 50-day simple moving averages (SMA) of 45.83 and 40.47, respectively, but above its 200-day SMA of 31.89. This indicates short-term bearish momentum but longer-term bullish trends. The Average True Range (ATR) of 2.49 suggests moderate volatility, which could present trading opportunities. Support levels at 33.7, 30.4, 28.7, and 26.2 may act as potential price floors if the ETF experiences a correction.

Over the next three months, FBLs price action will likely be influenced by its proximity to key SMA levels and broader market sentiment toward Meta Platforms. If the funds price rebounds above the 20-day SMA of 45.83, it could signal a bullish reversal, with potential upside toward its recent highs. Conversely, a breach of the 200-day SMA at 31.89 could indicate deeper correction. The funds assets under management (AUM) of $168.16 million suggest moderate liquidity, which may impact trading volumes during periods of high volatility.