BradMatheny

TECS Move above $23.00 is a clear breakout play

Long
AMEX:TECS   Direxion Technology Bear 3X Shares
TECS could move aggressively higher over the next few days and my analysis shows any move above $23.00 could be a very strong upside play for at least 5+ days. I'm not suggesting this downside move in the technology sector will last long, but I am suggesting that critical support is still quite a bit lower than where prices are right now. Take a look at my recent QQQ post to understand the downside risk of further weakness.

I believe an entry in TECS now would be a good play with a stop near $19.85. Any weakness will likely be identified quickly while the long term downside potential may play out over many weeks.

Could be a +25% move here soon.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.