Proshares Ultrashort Bloomberg $SCO Technical Update
The Proshares Ultrashort Bloomberg (NYSE: SCO) 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 SCO, 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 SCO
October 12, 2018, 2:45 am ET
The Technical Summary and Trading Plans for SCO 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 SCO Report.
SCO - (Long) Support Plan
Buy over 13.67 target 16.73 stop loss @ 13.41.
The technical summary data tells us to buy SCO near 13.67 with an upside target of 16.73. This data also tells us to set a stop loss @ 13.41 to protect against excessive loss in case the stock begins to move against the trade. 13.67 is the first level of support below 14.13 , and by rule, any test of support is a buy signal. In this case, support 13.67 is being tested, a buy signal would exist.
SCO - (Short) Resistance Plan
Short under 16.73 target 13.67 stop loss @ 16.99
The technical summary data is suggesting a short of SCO as it gets near 16.73 with a downside target of 13.67. We should have a stop loss in place at 16.99 though. 16.73 is the first level of resistance above 14.13, and by rule, any test of resistance is a short signal. In this case, if resistance 16.73 is being tested, a short signal would exist.