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SmarTrend Watching for Potential Rebound in Shares of Direxion Daily Small Cap Bear 3X Shares After 1.48% Loss
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.
In the past 52 weeks, shares of Direxion Daily Small Cap Bear 3X Shares have traded between the current low of $11.83 and a high of $24.66 and are now at $11.87. The 200-day and 50-day moving averages have moved 0.45% lower and 1.52% lower over the past week, respectively.
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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