Look for Shares of Direxion Daily Small Cap Bear 3X Shares to Potentially Rebound after Yesterday's 5.37% Sell Off
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $39.41 to a high of $41.22. Yesterday, the shares fell 5.4%, which took the trading range below the 3-day low of $41.06 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, Direxion Daily Small Cap Bear 3X Shares share prices have been bracketed by a low of $8.81 and a high of $74.00 and are now at $39.54, 349% above that low price. The 200-day and 50-day moving averages have moved 1.67% higher and 2.97% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on February 17th, 2016 by issuing a Downtrend alert when the shares were trading at $59.92. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 30.1%. 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