Look for Shares of Direxion Daily Emerging Markets Bull 3X Shares to Potentially Pullback after Yesterday's 2.10% Rise
Direxion Daily Emerging Markets Bull 3X Shares (NYSE:EDC) traded in a range yesterday that spanned from a low of $62.78 to a high of $63.43. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $61.93 on volume of 601,000 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 Emerging Markets Bull 3X Shares share prices have moved between a 52-week high of $63.43 and a 52-week low of $7.11 and are now trading 786% above that low price at $63.01 per share. The 200-day and 50-day moving averages have moved 2.98% higher and 9.47% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Direxion Daily Emerging Markets Bull 3X Shares on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.32. Since that recommendation, shares of Direxion Daily Emerging Markets Bull 3X Shares have risen 18.1%. We continue to monitor EDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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