How the price action of Direxion Daily Small Cap Bull 3x (TNA) is used to our Advantage

November 03, 2021, 16:00 pm ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Direxion Daily Small Cap Bull 3x (NYSE: TNA) data table below can help you with price action, and we have more details too. Trading plans for TNA are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for TNA

• Buy TNA slightly over 104.95 target 125.91 stop loss @ 104.65 Details

The technical summary data tells us to buy TNA near 104.95 with an upside target of 125.91. This data also tells us to set a stop loss @ 104.65 to protect against excessive loss in case the stock begins to move against the trade. 104.95 is the first level of support below 106.45 , and by rule, any test of support is a buy signal. In this case, support 104.95 is being tested, a buy signal would exist.

• Short TNA under 125.91, target 104.95, stop loss @ 126.27 Details

The technical summary data is suggesting a short of TNA as it gets near 125.91 with a downside target of 104.95. We should have a stop loss in place at 126.27though. 125.91 is the first level of resistance above 106.45, and by rule, any test of resistance is a short signal. In this case, if resistance 125.91 is being tested, a short signal would exist.

Swing Trading Plans for TNA

• Buy TNA slightly over 125.91, target n/a, Stop Loss @ 125.55 Details

If 125.91 begins to break higher, the technical summary data tells us to buy TNA just slightly over 125.91, with an upside target of n/a. The data also tells us to set a stop loss @ 125.55 in case the stock turns against the trade. 125.91 is the first level of resistance above 106.45, and by rule, any break above resistance is a buy signal. In this case, 125.91, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short TNA near 125.91, target 104.95, Stop Loss @ 126.27. Details

The technical summary data is suggesting a short of TNA if it tests 125.91 with a downside target of 104.95. We should have a stop loss in place at 126.27 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 125.91, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for TNA

• Buy TNA slightly over 125.91, target n/a, Stop Loss @ 125.62 Details

If 125.91 begins to break higher, the technical summary data tells us to buy TNA just slightly over 125.91, with an upside target of n/a. The data also tells us to set a stop loss @ 125.62 in case the stock turns against the trade. 125.91 is the first level of resistance above 106.45, and by rule, any break above resistance is a buy signal. In this case, 125.91, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short TNA near 125.91, target 104.95, Stop Loss @ 126.2. Details

The technical summary data is suggesting a short of TNA if it tests 125.91 with a downside target of 104.95. We should have a stop loss in place at 126.2 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 125.91, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

TNA Ratings for November 03:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	87.07
P2	98.66	94.38	104.95
P3	102.71	99.94	125.91

Support and Resistance Plot Chart for TNA

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