pool adsProshares Ultra S&p500 $SSO Technical Update
The Proshares Ultra S&p500 (NYSE: SSO) 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 SSO, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Weak | Neutral |
| P1 | 110.48 | 110.91 | 113.98 |
| P2 | 112.49 | 121.95 | 124.57 |
| P3 | 116.30 | 131.98 | 134.17 |
Support and Resistance Plot Chart for SSO
Long Term Trading Plans for SSO
October 23, 2018, 1:45 pm ET
The Technical Summary and Trading Plans for SSO 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 SSO Report.
SSO - (Long) Support Plan
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breask higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
SSO - (Short) Resistance Plan
Short under 113.98, target n/a, stop loss @ 114.24.
The technical summary data is suggesting a short of SSO as it gets near 113.98, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 114.24. 113.98 is the first level of resistance above 109.324, and by rule, any test of resistance is a short signal. In this case, if resistance 113.98 is being tested, so a short signal would exist.
