TMCnet News
Watch for Direxion Daily Small Cap Bear 3X Shares to Potentially Pullback After Gaining 6.57% YesterdayFeb 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) traded in a range yesterday that spanned from a low of $10.32 to a high of $11.20. Yesterday, the shares gained 6.6%, which took the trading range above the 3-day high of $11.09 on volume of 21.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. Over the past year, Direxion Daily Small Cap Bear 3X Shares has traded in a range of $10.00 to $24.66 and is now at $11.19, 12% above that low. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2.9%. SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on November 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $16.32. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 33.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |