Direxion Daily Financial Bear 3X Shares Are Reversing Up

 | Sep 25, 2013 12:51AM ET

From a technical view, the ETF has pushed above a key declining trend line which has been in place since September 2013.

Regarding technical indicators, the daily RSI broke above a bearish trend line.

On a relative basis against the S&P 500, the Direxion Daily Financial Bear 3X Shares (FAZ) is reversing up and looks set for a rebound.

Trading strategy:

Buy at $29.17; Stop loss at $26.75; Target at $33.27