Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Technical Update
Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) has been on a downward trend in the last couple of trading sessions, the stock saw some recovery in the previous week, but continues to show weakness and has been on a downward bias. The daily charts suggest the stock has been trading in a very volatile manner with no formidable trend.
The momentum indicators for the stock on the daily charts are in the overbought zone with an indication on a downward turn, this implies the stock might continue to slide downwards with very weak upside, the relative strength index for the stock shows a downward direction, the relative strength index is in the no trade zone with a downward curve, this is a bearish sign, the stock has shown weakness over the last month and may continue to trade in the red zone.
Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) is currently trading just shy of its 50 day moving average which stands at $20.76 and substantially below its 200 day moving average which stands at $25.09. This indicated the stock has lost a significant amount in the previous months with strong resistances on the upside.
On the upside the stock has a strong resistance around $22.21 and a close above this level could open the window for its next target which is around $25.35.
On the downside the stock has support around $19.31.
Latest posts by Viraj Shah (see all)
- California Boy Raises $800,000 to Fight Friend’s Rare Disease - October 23, 2014
- Kendall Jenner At Fashion Week - October 20, 2014
- Rally Starts In USD/CAD - September 18, 2014
- Forex News: USD/JPY Continues To Rally - September 18, 2014
- USDCAD Hits Session Low In Yesterday’s Trading - September 17, 2014
Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.
This Business Of Trading Stocks And Winning 101+ $SPY, $DIA, ... read more
US Dollar Falls, US Treasuries Rally US Dollar (.DXY) Index ... read more
LME BAse Metals Prices Finished Higher Friday The base metal ... read more
Ferrari 250 GTS SWB California Spider Expected To Fetch $12-M+ ... read more