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Direxion Daily Emerging Markets Bull 3X Shares Crosses Above its 10-day MA (EDC)

By Nick Russo

Direxion Daily Emerging Markets Bull 3X Shares (NYSE:EDC) crossed over its 10-day moving average of $63.19 on a volume of 294K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Direxion Daily Emerging Markets Bull 3X Shares share prices have been bracketed by a low of $7.11 and a high of $68.71 and are now at $64.80, 811% above that low price. Over the past week, the 200-day moving average (MA) has gone up 3.0% while the 50-day MA has advanced 9.5%.

SmarTrend recommended that subscribers consider buying shares of Direxion Daily Emerging Markets Bull 3X Shares on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.32. Since that recommendation, shares of Direxion Daily Emerging Markets Bull 3X Shares have risen 19.2%. We continue to monitor EDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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

Ticker(s): EDC