Look for Shares of Direxion Daily Small Cap Bull 3X Shares to Potentially Rebound after Yesterday's 4.04% Sell Off
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $71.34 to a high of $74.65. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $72.53 on volume of 2.7 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 Bull 3X Shares share prices have been bracketed by a low of $35.52 and a high of $99.00 and are now at $71.43, 101% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 2.1%.
SmarTrend recommended that subscribers consider buying shares of Direxion Daily Small Cap Bull 3X Shares on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.84. Since that recommendation, shares of Direxion Daily Small Cap Bull 3X Shares have risen 13.2%. We continue to monitor TNA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders direxion daily small cap bull 3x shares