ProShares Trust Ultra VIX Short Term Futures ETFArca
Huraian
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This is just purely speculation! I welcome criticism, please comment down below what you think.
Market, especially tech are reaching all-time high, together with the instability regarding the 2nd stimulus package and the 2nd wave. I would expect the market to run move sideways a bit until big news or other confirmations arrives. At the moment, UVXY reached a strong support level, and RSI has some room to run. I suspect for the short-term, the ticker would move up to the lower Fibonacci level until Congress agrees and releases the stimulus package.
Nice initial TP target, 65 and 95 seem possible too depending how things play out the next couple weeks. I still expect congress to fail till after August recess.