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Direxion Daily Emerging Markets Bull 3X Shares Rises 3.88% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Direxion Daily Emerging Markets Bull 3X Shares (NYSE:EDC) traded in a range yesterday that spanned from a low of $75.71 to a high of $77.75. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $75.46 on volume of 337,000 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 subscribers consider buying shares of Direxion Daily Emerging Markets Bull 3X Shares on January 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.26. Since that recommendation, shares of Direxion Daily Emerging Markets Bull 3X Shares have risen 23.8%. We continue to monitor EDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Direxion Daily Emerging Markets Bull 3X Shares has traded in a range of $7.11 to $77.75 and is now at $77.64, 992% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 3.0% while the 50-day MA has advanced 9.5%.

Keywords: rebounders direxion daily emerging markets bull 3x shares

Ticker(s): EDC