Watch for Direxion Daily Small Cap Bear 3X Shares to Potentially Pullback After Gaining 3.53% Yesterday
Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $35.28 to a high of $36.04. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $35.26 on volume of 3.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 306% above that low price at $35.74 per share. Over the last five market days, 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 42.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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