Direxion Daily 20+ Year Treasury Bear 3x Shares Breaks Out
Trading Central | Mar 08, 2015 01:54AM ET
TECHNICAL VIEW
(Daily chart)
*the Direxion Daily 20+ Year Treasury Bear 3x Shares (ARCA:TMV) has broken out its long term descending channel
Regarding technical indicators:
*the RSI is validating a bullish divergence
*the 20-day moving average (in red) has crossed above the 50-day moving average (in blue), forming a golden cross (bullish signal)
On a relative basis against the Direxion S&P 500 (ARCA:SPXL):
*the Direxion Daily 20+ Year Treasury Bear 3x Shares (TMV) has broken out its descending channel while the 20-day moving average (in red) is turning up. A rebound is expected.
LAST: $30.80
ENTRY: 30.80 [possible entry area: 29.15 - 31.30]
STOP: 27.50 (-10.71%)
TARGET 1: 34.15 (10.88%)
TARGET 2: 37.20 (20.78%)
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