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Direxion Daily Emerging Markets Bear 3X Shares Crosses Below its 10-day MA (EDZ)

By Nick Russo

Direxion Daily Emerging Markets Bear 3X Shares (NYSE:EDZ) crossed under its 10-day moving average of $22.41 on a volume of 366K 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 Emerging Markets Bear 3X Shares share prices have moved between a 52-week high of $72.94 and a 52-week low of $21.23 and are now trading 5% above that low price at $22.25 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Emerging Markets Bear 3X Shares on June 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $36.72. Since that call, shares of Direxion Daily Emerging Markets Bear 3X Shares have fallen 37.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses direxion daily emerging markets bear 3x shares

Ticker(s): EDZ