That is because today the high of TZA reached the 89 exponential moving average which to me is a strong resistance.
I will rather lock in profit now and see what happen tomorrow. I prefer to protect my profit more than worrying about “missing” the gap up tomorrow since a gap down will mean giving back what I make today.
See below TZA daily chart. The dash white-line is the 89 xma.
Good Hunting!If you enjoy the content at iBankCoin, please follow us on Twitter