Our system’s recommendation today is to SELL. The BEARISH DARK CLOUD COVER* pattern finally received a confirmation because the prices crossed below the confirmation level which was at 17.1300, and our valid average selling price stands now at 17.1100. The previous BUY signal was issued on 10/10/2014, 10 days ago, when the stock price was 18.4900. Since then TZA has fallen by -7.46%.
The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.
*This is not a new pattern. It is the last pattern that was confirmed previously which is still valid for reconfirmation.