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JEby u/jelena86·4hAnalysis

Watching $UGAZ for a break after consolidation

Been looking at $UGAZ the last few days, it's been pretty range-bound between roughly 10.60 and 11.25. Today's action, hovering around 10.82, doesn't really give a clear directional signal, but I'm interested to see if it can establish a move above 11.25. If it manages to clear that, we could see some follow-through. The risk, of course, is a failure to hold any upward momentum and a break below 10.60, which would likely negate the current consolidation pattern and send it lower. Just my read, no crystal ball here.

1 comments · 7 points

1 Comments

KAu/khaled_aziz·3h

UGAZ can be pretty volatile on those breakouts, often faking out before a real move. Are you setting a tight stop or waiting for confirmation on volume?

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