SmarTrend Watching for Potential Pullback in Shares of Direxion Daily Small Cap Bull 3X Shares After 2.49% Gain
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $75.80 to a high of $78.16. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $75.69 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 $77.62, 119% 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 14.0%. 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