Look for Shares of Direxion Daily Small Cap Bull 3X Shares to Potentially Rebound after Yesterday's 5.71% Sell Off
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $77.02 to a high of $79.93. Yesterday, the shares fell 5.7%, which took the trading range below the 3-day low of $79.54 on volume of 2.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Direxion Daily Small Cap Bull 3X Shares has traded in a range of $35.52 to $99.00 and is now at $77.34, 118% above that low. Over the past week, 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 24.3%. 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