This chart displays the weekly spread between UGAZ & DGAZ. A descending triangle pattern formed and broke to the upside. The target is 280 points to the upside which is the meat of the descending triangle.
So u are long on ugaz? didn't we hit 250 ugaz already once?
TechNycAli
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@hellreturn, the target is not in dollars - this is a spread. How I would calculate the dollar amount: 250 represents how many times more UGAZ is valued as compared to DGAZ. So if DGAZ goes to $3, my target on UGAZ is $750.
RodSuarez
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@TechNycAli, and how do you estimate the 20 to 1 reverse stock split in the UGAZ/DGAZ ratio of 250? Ty.
TechNycAli
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@RodSuarez, take the target pre-split (which was approx 250%) and divide by 20. This gives you roughly 12.5% which is the new target after the 20 to 1 reverse split.