SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Small Cap Bull 3X Shares After 3.55% Loss
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $65.75 to a high of $67.25. Yesterday, the shares fell 3.6%, which took the trading range below the 3-day low of $67.44 on volume of 2.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Direxion Daily Small Cap Bull 3X Shares has traded in a range of $35.52 to $99.00 and is now at $66.47, 87% above that low. The 200-day and 50-day moving averages have moved 1.03% lower and 2.11% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Direxion Daily Small Cap Bull 3X Shares on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.72. Since that recommendation, shares of Direxion Daily Small Cap Bull 3X Shares have risen 11.3%. 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