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Watch for Direxion Daily Small Cap Bear 3X Shares to Potentially Rebound After Falling 1.90% Yesterday

By James Quinn

Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $28.20 to a high of $29.23. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $28.28 on volume of 3.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on July 12th, 2016 by issuing a Downtrend alert when the shares were trading at $31.25. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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 223% above that low price at $28.46 per share. The 200-day and 50-day moving averages have moved 1.67% higher and 2.97% lower over the past week, respectively.

Keywords: rebounders direxion daily small cap bear 3x shares

Ticker(s): TZA