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SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Small Cap Bull 3X Shares After 9.59% Loss

By David Diaz

Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $57.88 to a high of $62.22. Yesterday, the shares fell 9.6%, which took the trading range below the 3-day low of $62.86 on volume of 4.4 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 $60.58, 71% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has slid 1%.

SmarTrend is monitoring the recent change of momentum in Direxion Daily Small Cap Bull 3X Shares. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Direxion Daily Small Cap Bull 3X Shares in search of a potential trend change.

Keywords: rebounders direxion daily small cap bull 3x shares

Ticker(s): TNA