Shares of DRN touched the 50-day moving average from above but failed to break through the widely watched support line. If the stock price remains above the critical 50-day moving average, then investors may continue to buy the shares in anticipation of an upward price move.
If shares of Direxion Daily Real Estate Bull 3X Shrs fall below the support line, the trend of the stock may change. The stock might become bear or neutral and traders may need to rely on other indicators as part of their strategy to determine what action to take concerning the stock. via marketintellisearch
The question is, will FAS continue falling or will increasing bullish sentiment help turn things around and start pushing the stock price higher? FAS has lost 22.16% during the past month and is currently trading below its 20-day, 50-day and 200-day moving averages.