Stocks to Buy based on the Best Stock Market Research
TNA is receiving an upgrade today to strong buy with a price target of $50 over the next three months. I think you should watch TNA and start to buy into the stock as it drops. As of the close on May 18, 2012, if TNA rallies back to $50 during the next 90 days, the gain would be about 12%.
Watch these support and resistance levels closely!
Direxion Daily Small Cap Bull 3X Shares (TNA) Support Levels - $43.94, $43.89, $42.11, $39.34
Direxion Daily Small Cap Bull 3X Shares (TNA) Resistance Levels - $46.70, $47.21, $47.60, $48.50
Direxion Daily Small Cap Bull 3X Shares (TNA) will have major support around $42.11 but if the stock break down below that level, I'd wait to buy below $40. A drop to $40 would produce a 24% gain if my price target comes true.
On the upside, TNA should gain some momentum on a break above $46.70 which is where this ETF failed at on Friday afternoon.
Update - TNA hits $49.98 on May 29, 2012 - Pullbacks below $46 are still a strong buy here on out
Update #2 - TNA rallied from $41.55 and hits $50.10 - June 7, 2012
Update #3 - TNA just hit $62 - September 6, 2012 - 40% gain from June
Replies to This Discussion
TNA made a huge reversal this morning - $44.48-$47.80 - target of $50 could come sooner rather than later
Nice call, are you still in?
Thanks, I moved to the sidelines for now. Anything below $45 is a strong buy. TNA had a big move today.
closing in on 200dma @ 49.39, nice bounces off top side of 200 earlier this year. i'l wait now till we break that resistance
TNA ended up hitting $49.23, just $0.73 away from $50 in two days, not to shabby, but I will leave the price target alone for now. I may need to increase it to $54.
I am back in TNA this morning
The 200 day MA on SPX might provide a clearer entry into TNA for another bounce. Otherwise, the choppiness might be hard to trade, unless you are working off the 5min chart, or catch it in pre-market for a quickie.
Not much going on with TNA right now, I was able to flip it twice this morning, now I am back in and will add on weakness tomorrow. Day traders might want to go into tomorrow flat due to the big drop today. If you are really bearish, buy TZA
Well, 1300 essentially held. I think we are just choppy in a triangle until the market decides it can hold over the 32.8% fib off our low. But if you or anyone else daytraded TNA off $45 support via the 15min chart today, you would have caught that entire Nike swoosh into the close. Tomorrow is key.
Percentage wise they move the same. You just have to buy more shares of the one with the lower price. They are fastened to each other. Trading one is the same as shorting the other, except shorting means there is no attrition -- not that there are ever shares available to short. No?
doesnt TNA move up with the DOW/S&P and TZA move up when Dow/S&P going down