Expect A Rebound In The Direxion Daily 20+ Year Treasury Bear 3x Shares (TMV)

buy-and-holdTrading Central: From a technical view, the ETF broke above a bearish trend line which should spark a rebound in coming days.

Regarding technical indicators, the daily RSI has bypassed a declining trend line and the 20 day simple moving average provides support.

On a relative basis against the S&P500, the Direxion Daily 20+ Year Treasury Bear 3x Shares has broken above a declining trend line and looks set for a rebound.

Trading strategy:
Buy @ $51.9 – Stop loss @ $47.15 – Target @ $54.8

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Glossary
RSI: (Relative Strength Index) a technical indicator which measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 – 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods Bullish gap: area on the bar chart where no trading has taken place. In an uptrend, prices open above the highest price of the previous day, leaving a gap or open space on the chart that is not filled during the day.

For more information on Direxion ETF go to: http://www.direxionfunds.com/


Disclaimer
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Rafferty Asset Management, LLC, the advisor of the Direxion Shares ETFs, has formed a relationship with TRADING Central to sponsor this trade alert program and to have a subset of Direxion Shares ETFs considered by TRADING Central’s model, however, any opinion offered herein reflects TRADING Central’s current judgment and may change without notice. Rafferty Asset Management, does not provide investment advice or opinions to TRADING Central. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.

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