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 $27.27 on a volume of 148K 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.
In the past 52 weeks, Direxion Daily Semiconductors Bull 3x share prices have been bracketed by a low of $17.17 and a high of $150.41 and are now at $27.01, 57% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 21.9%.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Semiconductors Bull 3x on May 20th, 2015 by issuing a Downtrend alert when the shares were trading at $36.87. Since that call, shares of Direxion Daily Semiconductors Bull 3x have fallen 25.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses direxion daily semiconductors bull 3x