Direxion Daily 20+ Year Treasury Bear 3x Shares: Buy At $52.05

 | Jun 11, 2014 01:25AM ET

From a technical view, the ETF has pushed above the upper boundary of a falling wedge pattern turning the outlook bullish. Regarding technical indicators, the daily RSI has broken above a bearish trend line and is supported by a key rising trend which maintains upward momentum. On a relative basis against the S&P 500, the Direxion Daily 30 Year Treas. Bull 3x (ARCA:TMV) has pushed above a declining trend line which has been in place since January 2014.
Trading strategy:
Buy at $52.05 - Stop loss at $49.50 - Target at $62.50