Direxion Daily Financial Bull $FAS Trading Signals

March 27, 2023, 07:45 amET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FAS

• Buy FAS slightly over 46.03 target 65.07 stop loss @ 45.9 Details

The technical summary data tells us to buy FAS near 46.03 with an upside target of 65.07. This data also tells us to set a stop loss @ 45.9 to protect against excessive loss in case the stock begins to move against the trade. 46.03 is the first level of support below 54.21 , and by rule, any test of support is a buy signal. In this case, support 46.03 would be being tested, so a buy signal would exist.

• Short FAS slightly under 65.07, target 46.03, stop loss @ 65.26 Details

The technical summary data is suggesting a short of FAS as it gets near 65.07 with a downside target of 46.03. We should have a stop loss in place at 65.26though. 65.07 is the first level of resistance above 54.21, and by rule, any test of resistance is a short signal. In this case, if resistance 65.07 is being tested, so a short signal would exist.

Swing Trading Plans for FAS

• Buy FAS slightly over 65.07, target 84.82, Stop Loss @ 64.88 Details

If 65.07 begins to break higher, the technical summary data tells us to buy FAS just slightly over 65.07, with an upside target of 84.82. The data also tells us to set a stop loss @ 64.88 in case the stock turns against the trade. 65.07 is the first level of resistance above 54.21, and by rule, any break above resistance is a buy signal. In this case, 65.07, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FAS slightly near 65.07, target 53.78, Stop Loss @ 65.26. Details

The technical summary data is suggesting a short of FAS if it tests 65.07 with a downside target of 53.78. We should have a stop loss in place at 65.26 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 65.07, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FAS

• Buy FAS slightly over 54.32, target 65.07, Stop Loss @ 54.19 Details

If 54.32 begins to break higher, the technical summary data tells us to buy FAS just slightly over 54.32, with an upside target of 65.07. The data also tells us to set a stop loss @ 54.19 in case the stock turns against the trade. 54.32 is the first level of resistance above 54.21, and by rule, any break above resistance is a buy signal. In this case, 54.32, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FAS slightly near 54.32, target 53.78, Stop Loss @ 54.45. Details

The technical summary data is suggesting a short of FAS if it tests 54.32 with a downside target of 53.78. We should have a stop loss in place at 54.45 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 54.32, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

FAS Ratings for March 27:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	46.03
P2	49.76	45.97	65.07
P3	54.32	53.78	84.82

Chart of FAS with Longer Term Pivots

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Trading Direxion Daily Financial Bull (NYSE: FAS) can be efficient and rewarding, especially in volatile markets, so long as the important pivot points for the stock are observed before making decisions to buy, sell, or short.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FAS change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FAS is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FAS too.  All of these are offered below the Summary Table.