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SmarTrend Watching for Potential Pullback in Shares of Direxion Daily Small Cap Bear 3X Shares After 2.74% Gain

By Amy Schwartz

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $18.16 to a high of $18.51. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $18.18 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.

Over the past year, Direxion Daily Small Cap Bear 3X Shares has traded in a range of $8.81 to $74.00 and is now at $18.45, 109% above that low. 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 November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $26.44. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 32.2%. 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

Ticker(s): TZA