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After Yesterday's Rally of 5.72% Shares Could Potentially Pullback

By Nick Russo

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $27.54 to a high of $28.49. Yesterday, the shares gained 5.7%, which took the trading range above the 3-day high of $27.71 on volume of 7.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Direxion Daily Small Cap Bear 3X Shares share prices have moved between a 52-week high of $74.00 and a 52-week low of $8.81 and are now trading 222% above that low price at $28.39 per share. The 200-day and 50-day moving averages have moved 1.67% higher and 2.97% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on July 12th, 2016 by issuing a Downtrend alert when the shares were trading at $31.25. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 13.9%. 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