TZA Follow Up

Last Thursday I featured TZA (long)

TZA is up nearly 7% in the approximately 2 trading days since. TZA is a leveraged, Ultrashort ETF on small cap stocks. Please see the linked post above for more details on the trade, however, if you are interested in the trade, it has several zones of resistance coming up which may offer a pullback and a good risk/reward opportunity to get involved.

 So far TZA has had nearly perfect confirmation, so it's off to a good start.

On a daily chart, here are a couple of zones of resistance where it's likely a pullback/consolidation may take place, just under $38 looks to be the more likely of the two.

You may want to set an alert to let you know if a pullback has taken place, you can use www.FreeStockCharts.com to set alerts and get real time charts with no 20-minute delay.