Direxion Daily Financial Bear 3X Shares Bearish Moving Average Crossover Alert (FAZ)
Today, shares of Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) have crossed bearishly below their 10-day moving average of $38.42 on a volume of 279K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Direxion Daily Financial Bear 3X Shares has traded in a range of $36.57 to $68.42 and is now at $38.10, 4% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.8%.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Financial Bear 3X Shares on February 17th, 2016 by issuing a Downtrend alert when the shares were trading at $54.43. Since that call, shares of Direxion Daily Financial Bear 3X Shares have fallen 28.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses direxion daily financial bear 3x shares