Double-Top Breakout in DUG Signals Higher Prices
08/19/2009 12:01 am EST
This inverse ETF has given multiple buy signals, indicating lower prices for oil and gas.
The double-top breakout is supported by higher volume and a stochastic buy signal, and should result in a target of $22 to $23.
This leveraged ETF is not eligible for loan value in a margin account, and the position should be protected with a stop-loss.
By Sam Collins of OptionsZone.com