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After Yesterday's Rally of 1.20% Shares Could Potentially Pullback

By Nick Russo

Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) traded in a range yesterday that spanned from a low of $18.34 to a high of $18.64. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $18.35 on volume of 937,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 49.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Direxion Daily Financial Bear 3X Shares share prices have been bracketed by a low of $17.00 and a high of $68.42 and are now at $18.47, 9% above that low price. The 200-day and 50-day moving averages have moved 0.1% lower and 2.83% lower over the past week, respectively.

Keywords: rebounders direxion daily financial bear 3x shares

Ticker(s): FAZ