Bearish Moving Average Cross by Direxion Daily Semiconductors Bull 3x (SOXL)
Today, shares of Direxion Daily Semiconductors Bull 3x (NYSE:SOXL) have crossed bearishly below their 10-day moving average of $136.20 on a volume of 125K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Direxion Daily Semiconductors Bull 3x share prices have moved between a 52-week high of $146.68 and a 52-week low of $57.70 and are now trading 135% above that low price at $135.32 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.9%.
SmarTrend recommended that subscribers consider buying shares of Direxion Daily Semiconductors Bull 3x on October 17th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.36. Since that recommendation, shares of Direxion Daily Semiconductors Bull 3x have risen 69.6%. We continue to monitor SOXL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses direxion daily semiconductors bull 3x