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Direxion Daily Small Cap Bear 3X Shares Set to Possibly Pullback After Yesterday's Rally of 2.39%

By James Quinn

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $19.04 to a high of $19.54. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $19.42 on volume of 6.5 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 119% above that low price at $19.28 per share. Over the last five market days, 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 28.8%. 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