For those in the TZA trade, please note that due to the 1:4 reverse stock split effective yesterday, the new split adjusted profit target is now 49.20 (4x the previous target of 12.30).  Here’s the previous 4 hour chart followed by today’s updated chart which reflects the new split adjusted price and target.  As my trendlines needed to be redrawn, I have slightly modified the falling wedge pattern to reflect a new, more relevant downtrend line, should prices somehow managed to pullback and backtest the wedge (which I would put at an extremely low probability).