The Direxion Daily Financial Bear 3X Shares (FAZ) & Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) have been very active over the past six months. The following is technical analysis on Financial Bull ( FAS ) for 5/26/09. Knowing the support and resistance levels for FAS will help you trade FAZ.FAS Support and Resistance Levels - May 26, 2009
Resistance Levels: $ 9.30, $9.50, $10.00, $10.60, $12.53
Support Levels: $8.60, $8.28, $8.09, $7.88
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FAS continues to trade around the 10 day moving average. For a trade, I am watching for a break above Thursday's high of $9.31 to get long FAS. I am also watching the low from Thursday at $8.60 to jump into FAZ for a trade. The 50 day moving average is slowly creeping higher ( $7.88 ) which is another area to watch going forward. A close below the 50 day moving average would be bearish! For More Technical Analysis - Go Here
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