Proshares Ultrashort Financial $SKF Technical Update
The Proshares Ultrashort Financial (NYSE: SKF) 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 SKF, 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 SKF
October 12, 2018, 7:45 am ET
The Technical Summary and Trading Plans for SKF 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 SKF Report.
SKF - (Long) Support Plan
Buy over 18.87 target 20.55 stop loss @ 18.61.
The technical summary data tells us to buy SKF near 18.87 with an upside target of 20.55. This data also tells us to set a stop loss @ 18.61 to protect against excessive loss in case the stock begins to move against the trade. 18.87 is the first level of support below 20.39 , and by rule, any test of support is a buy signal. In this case, support 18.87 is being tested, a buy signal would exist.
SKF - (Short) Resistance Plan
Short under 20.55 target 18.87 stop loss @ 20.81
The technical summary data is suggesting a short of SKF as it gets near 20.55 with a downside target of 18.87. We should have a stop loss in place at 20.81 though. 20.55 is the first level of resistance above 20.39, and by rule, any test of resistance is a short signal. In this case, if resistance 20.55 is being tested, a short signal would exist.