INVERSE H&SInverse head and shoulders is a bullish pattern that is usually found at a bottom.
There are 2 shoulders that should be relatively close in price and a deeper valley in the middle of the 2 shoulders that forms a head.
Direxion Daily Technology Bear 3X Shares ETF. Leveraged.
The pattern is not valid until the neckline is clearly broken with an uptrend.
Until it is broken, the neckline is strong resistance.
No recommendation
Direxion Shares ETF Trust - Direxion Daily Technology Bear 3X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets of the United States. It invests through derivatives and through other funds in stocks of companies operating across information technology sectors. The fund employs short strategy and uses derivatives such as futures, swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. The fund seeks to track -3x the daily performance of the Technology Select Sector Index. Direxion Shares ETF Trust - Direxion Daily Technology Bear 3X Shares was formed on December 17, 2008 and is domiciled in the United States.
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Technology Select Sector Index. The fund, under normal circumstances, invests at least 80% of it’s net assets (plus borrowing for investment purposes) in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short daily exposure to the Index or to ETFs that track the Index. The index is provided by S&P Dow Jones Indices (the "index provider") and includes domestic companies from the technology sector. It is non-diversified. Benchmark: S&P Technology Select Sector TR USD
