From a technical view, theDirexion Daily Small Cap Bear 3X Shares ETF (ARCA:TZA) broke through and has bypassed a bearish channel. Regarding technical indicators, the daily RSI is above its neutrality area.
On a relative basis against the S&P 500, the Direxion Daily Small Cap Bear 3x Shares broke above a declining trend line and looks set for a rebound.
Trading strategy:
Buy @ $14.89 - Stop loss @ $13.95 - Target @ $17.25