Look for Shares of Direxion Daily Small Cap Bear 3X Shares to Potentially Rebound after Yesterday's 2.84% Sell Off
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $40.27 to a high of $41.71. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $40.81 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 363% above that low price at $40.81 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 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 30.7%. 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