Watch for Direxion Daily Small Cap Bull 3X Shares to Potentially Rebound After Falling 6.72% Yesterday
Direxion Daily Small Cap Bull 3X Shares (NYSE:TNA) traded in a range yesterday that spanned from a low of $71.95 to a high of $75.78. Yesterday, the shares fell 6.7%, which took the trading range below the 3-day low of $72.90 on volume of 2.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of Direxion Daily Small Cap Bull 3X Shares on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.84. Since that recommendation, shares of Direxion Daily Small Cap Bull 3X Shares have risen 17.2%. We continue to monitor TNA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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 $72.44, 104% 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%.
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