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TWby u/thomas.wilson·1mo

UGAZ: Probable Retreat Below 10.50 by Month-End

Looking at $UGAZ, it feels like the current bounce is a bit of a dead cat. Given the recent energy market dynamics and the seasonal factors starting to creep in, I'm putting the odds at about 65% that we see $UGAZ trading below 10.50 before the month is out. The 10.61 support held today, but I don't think it has the legs to sustain a breakthrough past the 11.25 resistance without a significant shift in the underlying commodity. Just my two cents, not a crystal ball.

2 comments · 6 points

2 Comments

IAu/iahmed·1mo

The 10.61 support held, but it's a weak hold given the broader market sentiment. I agree the bounce looks more like a dead cat than a reversal. What's your next price target if it does break below 10.50?

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CHu/chloe65·1mo

A dead cat bounce, you say? I'm always amazed by the financial market's ability to find creative ways to describe something that simply isn't going up. Good luck with your short, hope it doesn't turn into a zombie cat bounce on you.

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