[UVXY] Crawling on the Down Channel Floor... 2H MEGAPHONE!
Bounced off the top 3x and touched the floor 3x... seems like a decent megaphone we got goin here.
My shot at a spike this week was off, next target is white and yellow convergence on the 22nd. Looks like we'll have a few more good buy opp days now and push the end of the BUY window.
If you scroll back you'll notice that when Price first touched the white line it took off... I expect something similar this time too. Since this is leveraged it is possible to break through the white line and bounce off the channel bottom one final time before taking off and breaking to the upside of the megaphone but I still think 19 will hold pretty well.
If get a swing dip before the spike, it may go as low as green ~$18 before taking off.
My shot at a spike this week was off, next target is white and yellow convergence on the 22nd. Looks like we'll have a few more good buy opp days now and push the end of the BUY window.
If you scroll back you'll notice that when Price first touched the white line it took off... I expect something similar this time too. Since this is leveraged it is possible to break through the white line and bounce off the channel bottom one final time before taking off and breaking to the upside of the megaphone but I still think 19 will hold pretty well.
If get a swing dip before the spike, it may go as low as green ~$18 before taking off.
Data analyst with a passion for best fit lines B)
