TZA (long) Follow Up

This is the second follow up since the original trade idea on Thursday, April 7th.


Since, TZA is up 10% in 3 days. More importantly for more conservative traders, it just broke it's first level of important resistance. There may be an opportunity to pick up or add to TZA on an intraday pullback.

 Here's our original trade idea and today's breakout through gap resistance. By the way, my opinion is that gap support and resistance is some of the strongest, just something to keep in mind.

 Here's the daily Stoch/RSI buy signal

 Just to show you how strong TZA looks, this is a 60 min very positive leading divergence

 Here's a short term 5min negative divergence which lead me to believe a little pullback may be coming, especially now that it's broken out.

On this hourly chart are two potential pullback targets, I lean more toward the yellow moving average or in between the yellow and blue. At that point, I'd give some serious consideration to initiating or adding to the trade. Feel free to email me on a pullback or whenever you might be considering a position, for an update.