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After Yesterday's Rally of 2.22% Shares Could Potentially Pullback

By James Quinn

Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) traded in a range yesterday that spanned from a low of $20.19 to a high of $20.94. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $20.52 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Direxion Daily Financial Bear 3X Shares have traded between a low of $17.00 and a high of $68.42 and are now at $20.20, which is 19% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.8%.

SmarTrend is monitoring the recent change of momentum in Direxion Daily Financial Bear 3X Shares. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Direxion Daily Financial Bear 3X Shares in search of a potential trend change.

Keywords: rebounders direxion daily financial bear 3x shares

Ticker(s): FAZ