SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Small Cap Bear 3X Shares After 5.37% Loss
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $39.41 to a high of $41.22. Yesterday, the shares fell 5.4%, which took the trading range below the 3-day low of $41.06 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Direxion Daily Small Cap Bear 3X Shares share prices have moved between a 52-week high of $74.00 and a 52-week low of $8.81 and are now trading 349% above that low price at $39.54 per share. Over the past week, the 200-day moving average (MA) has gone up 1.7% while the 50-day MA has declined 3%.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on February 17th, 2016 by issuing a Downtrend alert when the shares were trading at $59.92. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 30.1%. 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