Look for Shares of Direxion Daily Small Cap Bear 3X Shares to Potentially Pullback after Yesterday's 4.82% Rise
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $26.86 to a high of $28.22. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $28.11 on volume of 5.3 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 219% above that low price at $28.08 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has risen 1.7%.
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 14.3%. 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