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.
In the past 52 weeks, shares of Direxion Daily Small Cap Bull 3X Shares have traded between a low of $35.52 and a high of $99.00 and are now at $72.44, which is 104% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 2.1%.
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.
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