TZA Small Cap Bear 3x ETF Daily Chart

TZA Small Cap Bear 3x ETF daily chart shows how the oversold conditions, falling wedge and positive divergence rewarded those who had the nerves of steel to buy late February and catch the bottom, based on the accurate technical analysis projection. Yesterday's close at 42 is just shy of critical resistance at 43, price tested the 43 yesterday, and failed. But considering that futures are in the tank at this minute, 43, 44, 45, 47, 49, 51 and 52 are all in play. Upon a flush at todays open in the broad indexes, many traders will take their tastey TZA profits and run for the exits so some trading nimbleness will be required for day traders.

A gap is left behind at the 20 MA at 39.7 so once things settle down in the days ahead, a move back to retest this level would be in order, and this may serve as a next entry into TZA. The indicators are long and strong over the last couple weeks showing that the price move up is the real deal, and to expect more broad maket selling as the weeks move along. A move to 46-47 will fill the gap as well as provide an initial test of strong resistance so that would be a high projection for the quick near term move. Thus, perhaps 46-47 then back down to 39.7-ish to reload and then continued up, up and away. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.