$ARMG Explodes Higher While $DXYZ Sets Up the Next Trend Leg
$Leverage Shares 2X Long ARM Daily ETF(ARMG)$
(Update) — further push with a +21% move at the open.
Taking some size off at 12x ATR% from the 50-MA,
$ARM Holdings(ARM)$ is at 9.5 x ATR% from 50-MA. This could still develop into a range-expansion move with a larger upside day ahead, but at this level of extension, it can also easily tilt and deflate.
Scaling partial profits helps reduce pressure and gives peace of mind, while allowing the remaining position to ride/retrace on the rising 10-MA and stay involved for any reset to the future rally leg after this — similar to
$DXYZ (Update) — We should have memory of how Qullamaggie style second leg setup looks like.
$DXYZ is currently extended to only 3.6x ATR% above the 50-MA after it ran to 23x on 11th May. It hasn’t done anything wrong since. Did not violate closed below 10-MA lower low sell rule
This is how strong stocks/ETF reset to trend higher.
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