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SmarTrend Watching for Potential Pullback in Shares of Direxion Daily Small Cap Bear 3X Shares After 6.94% Gain
Nov 07, 2012 (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 $15.83 to a high of $16.62. Yesterday, the shares gained 6.9%, which took the trading range above the 3-day high of $16.10 on volume of 26.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Small Cap Bear 3X Shares on June 19th, 2012 by issuing a Downtrend alert when the shares were trading at $19.62. Since that call, shares of Direxion Daily Small Cap Bear 3X Shares have fallen 22.0%. 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 $39.68 and a 52-week low of $13.35 and are now trading 23% above that low price at $16.37 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.3%.
Write to Chip Brian at cbrian@mysmartrend.com
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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
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