Direxion Daily Mid Cap Bear 3X Shares: Buy At $19.78

 | Feb 02, 2014 01:37AM ET

From a technical view, the ETF has broken above a key bearishtrend line.

Regarding technical indicators, the daily RSI is above its neutrality area and the 20-day moving average is turning up.

On a relative basis against the S&P500, the Direxion Daily Mid Cap Bear 3x Shares is above its 20-day moving average which is turning up.

Trading strategy:
Buy at $19.78 - Stop loss at $17.4 - Target at $22.65