Direxion Daily Financial Bull 3X Shares Looks Bearish on Money Flow

Time: 6/21/2010 10:48:00 AM
source:learningmarkets.com
Direxion Daily Financial Bull 3X Shares (FAS) gained some ground during trading yesterday, but it appears there is some bearish pressure building up in the background. Looking at yesterday's money flows, $6.13 million left the stock. Only $74.37 million flowed into the stock on uptick trades while $68.24 million flowed in on downtick trades---giving FAS an up/down ratio of 92/100.

The question is, will FAS continue rising or will increasing bearish sentiment help turn things around and start pushing the stock price lower? FAS has lost 14.18% during the past month and is currently trading above its 20-day moving average but below its 50-day and 200-day moving averages.


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