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After Yesterday's Rally of 5.59% Shares Could Potentially Pullback

By David Diaz

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $17.86 to a high of $19.50. Yesterday, the shares gained 5.6%, which took the trading range above the 3-day high of $18.38 on volume of 11.2 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, Direxion Daily Small Cap Bear 3X Shares share prices have been bracketed by a low of $8.81 and a high of $74.00 and are now at $19.07, 116% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.7% while the 50-day MA has declined 3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $26.44. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 31.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders direxion daily small cap bear 3x shares

Ticker(s): TZA