After Yesterday's Rally of 2.24% Shares Could Potentially Pullback
Direxion Daily Emerging Markets Bear 3X Shares (NYSE:EDZ) traded in a range yesterday that spanned from a low of $23.14 to a high of $24.65. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $24.58 on volume of 1.7 million 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 Emerging Markets Bear 3X Shares on June 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $36.72. Since that call, shares of Direxion Daily Emerging Markets Bear 3X Shares have fallen 34.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Direxion Daily Emerging Markets Bear 3X Shares has traded in a range of $22.46 to $72.94 and is now at $24.33, 8% above that low. The 200-day and 50-day moving averages have moved 0.13% higher and 2.94% lower over the past week, respectively.
Keywords: rebounders direxion daily emerging markets bear 3x shares