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Today’s chart is of iShares Barclays 20+ Year Treasury Bond (TLT) which seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays U.S. 20+ Year Treasury Bond Index.
Ticker: iShares Barclays 20+ Year Treasury Bond (TLT)
What I Am Looking At:
- Recently cleared the 0 percent year-to-date level, which can act as support/resistance
- Also, cleared the significant round number $120 level
- Broke out from the 10-month long descending channel (shown on chart)
- Cleared all moving averages displayed on chart
- $122-$124, major zone for volume by price, could act as resistance
- Nearly 59 percent of the float is sold short
- More than 3 times as many put options remain open relative to call options which is an extreme in bearish bets on TLT shares
- During the past 50 days nearly twice as many puts have been bought to open versus calls which could provide a tailwind for shares on an unwind situation