Proshares Short Qqq $PSQ Technical Update
The Proshares Short Qqq (NYSE: PSQ) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for PSQ, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for PSQ
October 11, 2018, 8:15 am ET
The Technical Summary and Trading Plans for PSQ help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this PSQ Report.
PSQ - (Long) Support Plan
Buy over 31.22 target n/a stop loss @ 30.96.
The technical summary data tells us to buy PSQ near 31.22, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 30.96 to protect against excessive loss in case the stock begins to move against the trade. 31.22 is the first level of support below 31.62, and by rule, any test of support is a buy signal. In this case, if support 31.22 is being tested, a buy signal would exist.
PSQ - (Short) Resistance Plan
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.