Direxion Daily Financial Bear 3X Shares Crosses Below its 10-day MA (FAZ)
Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) shares have crossed bearishly below their 10-day moving average of $32.03 on a volume of 339K 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, shares of Direxion Daily Financial Bear 3X Shares have traded between a low of $30.00 and a high of $68.42 and are now at $31.93, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Financial Bear 3X Shares on July 11th, 2016 by issuing a Downtrend alert when the shares were trading at $36.40. Since that call, shares of Direxion Daily Financial Bear 3X Shares have fallen 11.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses direxion daily financial bear 3x shares