GUSH Long idea

Long

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (AMEX:GUSH)

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AMEX:GUSH Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

trendanalysis chartpattern indicator gush ery erx drip usoil energy energystock

If you have been watching oil and the energy sector you've seen quite a decline lately. It could be that the energy sector bottomed 2 days ago. Look at that lower trend line. touched several times and very nice gains after ward. I would be willing to bet the bottom is in for GUSH. I usually like to wait to see the price regain the 10 sma and get above the supporting moving averages. BUT, if your brave. A low risk setup because you can set your stop at the recent low.

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Could be on that trend line Today. Low risk entry?

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GUSH hit the trend line today and recovered slightly. Wait for the buy signal.

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So here is the big move in GUSH. I was hoping to get in before the move, but this should be the buy here. Price is above the 8 sma. Wish I bought Yesterday

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Big volume coming in to GUSH today as well. Oil inventory reports today, not sure what time.

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New GUSH Analysis available above.

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