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SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Emerging Markets Bear 3X Shares After 3.70% Loss

By Shiri Gupta

Direxion Daily Emerging Markets Bear 3X Shares (NYSE:EDZ) traded in a range yesterday that spanned from a low of $16.48 to a high of $16.96. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $17.02 on volume of 826,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Emerging Markets Bear 3X Shares on January 5th, 2017 by issuing a Downtrend alert when the shares were trading at $23.12. Since that call, shares of Direxion Daily Emerging Markets Bear 3X Shares have fallen 25.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Direxion Daily Emerging Markets Bear 3X Shares share prices have been bracketed by a current low of $16.48 and a high of $72.94 and are now at $16.50. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.9%.

Keywords: rebounders direxion daily emerging markets bear 3x shares

Ticker(s): EDZ