SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Small Cap Bear 3X Shares After 1.23% Loss
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $36.90 to a high of $37.51. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $37.55 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, Direxion Daily Small Cap Bear 3X Shares share prices have been bracketed by a low of $8.81 and a high of $74.00 and are now at $37.29, 323% above that low price. 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 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 37.3%. 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 bear 3x shares