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Direxion Daily Gold Miners Bull 2x Shares Set to Possibly Pullback After Yesterday's Rally of 265.77%

By Nick Russo

Direxion Daily Gold Miners Bull 2x Shares (NYSE:NUGT) traded in a range yesterday that spanned from a low of $29.50 to a high of $32.69. Yesterday, the shares gained 265.8%, which took the trading range above the 3-day high of $8.38 on volume of 8.7 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 is monitoring the recent change of momentum in Direxion Daily Gold Miners Bull 2x Shares. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Direxion Daily Gold Miners Bull 2x Shares in search of a potential trend change.

Direxion Daily Gold Miners Bull 2x Shares share prices have moved between a 52-week high of $178.98 and a 52-week low of $5.51 and are now trading 437% above that low price at $29.58 per share. Over the last five market days, the 200-day moving average (MA) has gone down 100% while the 50-day MA has declined 100%.

Keywords: rebounders direxion daily gold miners bull 2x shares

Ticker(s): NUGT