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Direxion Daily Small Cap Bear 3X Shares Falls 1.48% on Heavy Volume: Watch For Potential Rebound
Jan 15, 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 $11.83 to a high of $12.28. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $11.92 on volume of 16.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
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 26.1%. 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 $24.66 and the current low of $11.83 and are currently at $11.87 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.5%.
Write to Chip Brian at cbrian@mysmartrend.com
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