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Watch for Direxion Daily Emerging Markets Bull 3X Shares to Potentially Pullback After Gaining 3.88% Yesterday

By James Quinn

Direxion Daily Emerging Markets Bull 3X Shares (NYSE:EDC) traded in a range yesterday that spanned from a low of $75.71 to a high of $77.75. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $75.46 on volume of 337,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Direxion Daily Emerging Markets Bull 3X Shares have traded between a low of $7.11 and a high of $77.75 and are now at $77.64, which is 992% above that low price. The 200-day and 50-day moving averages have moved 2.98% higher and 9.47% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Direxion Daily Emerging Markets Bull 3X Shares on January 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.26. Since that recommendation, shares of Direxion Daily Emerging Markets Bull 3X Shares have risen 23.8%. We continue to monitor EDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders direxion daily emerging markets bull 3x shares

Ticker(s): EDC