SmarTrend Watching for Potential Pullback in Shares of Direxion Daily Small Cap Bull 3X Shares After 2.80% Gain
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $59.20 to a high of $61.42. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $59.96 on volume of 3.2 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, shares of Direxion Daily Small Cap Bull 3X Shares have traded between a low of $35.52 and a high of $99.00 and are now at $60.80, which is 71% 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 its subscribers protect gains by selling shares of Direxion Daily Small Cap Bull 3X Shares on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $63.01. Since that call, shares of Direxion Daily Small Cap Bull 3X Shares have fallen 5.3%. 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 bull 3x shares