(FNGO) MicroSectors FANG+ Index 2X - Ratings and Ratios

The MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) is a senior unsecured medium-term note issued by Bank of Montreal. It offers investors 2X leveraged exposure to the daily performance of the FANG+ Index, compounded daily, with deductions for a Daily Investor Fee, a Daily Financing Charge, and a potential Redemption Fee Amount. The FANG+ Index is an equal-dollar weighted index tracking highly liquid growth stocks within the technology and consumer discretionary sectors, focusing on companies at the forefront of technological innovation and digital transformation.

Ticker Symbol: FNGO | Exchange: NYSE ARCA | Type: ETN | Country Origin: USA | Category: Leveraged Equity Trading. The ETNs technical profile shows an average 20-day volume of 16,872 shares, with a last price of $83.34. Its short-term SMA (20-day) is $97.12, while the medium-term SMA (50-day) is $96.55, and the long-term SMA (200-day) is $78.69. The ATR is 4.14, reflecting moderate volatility. The fundamental profile indicates an AUM of $497.59M USD, positioning it as a mid-sized leveraged product in its category.

3-Month Forecast: Based on the technical and fundamental data, FNGO is likely to face headwinds in the near term. The SMA crossover suggests a bearish trend, with the 20-day SMA below the 50-day SMA. The ATR indicates moderate volatility, which could amplify price movements. With the 200-day SMA at $78.69, support levels may be tested if the current downtrend persists. The AUM of $497.59M suggests sufficient liquidity but may not buffer against broader market declines. Overall, FNGO is expected to remain under pressure, with potential downside targeting the $70-$75 range over the next three months.