The Direxion Daily Financial Bear 3X Shares (FAZ)Daily Finan. Bull 3X Shs(ETF)(FAS) have been very active over the past ten months. The following is technical analysis on Financial Bull ( FAS ) for 11/2/09. Knowing the support and resistance levels for FAS will help you trade FAZ.FAS Support and Resistance Levels - November 2, 2009
Resistance Levels: $70, $74, $80
Support Levels: $65.26, $64.47, $60
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FAS is now back in an area where I will be actively trading it once again. I love FAS below $70 for both a trade and a long term buy. I am expecting huge swings in this stock next week. Since FAS closed below $68.26 on Friday, I am now watching the $65.26 & $64.47 lows closely. A break below these lows would be very bearish and I will be expecting FAS to tank yet again. The next major support level would be located at $60 followed by $57. The first area of resistance is located at $70, a break back above $70 would be bullish. I would hold FAS if it closed back above $80. For More Technical Analysis - Go Here
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