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Watch for Direxion Daily Small Cap Bear 3X Shares to Potentially Rebound After Falling 2.28% Yesterday

By Amy Schwartz

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $18.16 to a high of $18.68. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $18.78 on volume of 7.6 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 $18.40, 109% above that low price. 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 November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $26.44. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 28.7%. 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

Ticker(s): TZA