Learn to Evaluate (EUO) using the Charts
October 29, 2024, 22:44 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for EUO
- Buy EUO near 31.12 target 32.06 stop loss @ 31.03 Details
The technical summary data tells us to buy EUO near 31.12 with an upside target of 32.06. This data also tells us to set a stop loss @ 31.03 to protect against excessive loss in case the stock begins to move against the trade. 31.12 is the first level of support below 31.8367 , and by rule, any test of support is a buy signal. In this case, support 31.12 is being tested, a buy signal would exist.
- Short EUO slightly under 32.06, target 31.12, stop loss @ 32.15 Details
The technical summary data is suggesting a short of EUO as it gets near 32.06 with a downside target of 31.12. We should have a stop loss in place at 32.15though. 32.06 is the first level of resistance above 31.8367, and by rule, any test of resistance is a short signal. In this case, if resistance 32.06 is being tested, a short signal would exist.
Swing Trading Plans for EUO
- Buy EUO slightly over 32.22, target n/a, Stop Loss @ 32.13 Details
If 32.22 begins to break higher, the technical summary data tells us to buy EUO just slightly over 32.22, with an upside target of n/a. The data also tells us to set a stop loss @ 32.13 in case the stock turns against the trade. 32.22 is the first level of resistance above 31.8367, and by rule, any break above resistance is a buy signal. In this case, 32.22, 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 EUO slightly near 32.22, target 31.12, Stop Loss @ 32.31. Details
The technical summary data is suggesting a short of EUO if it tests 32.22 with a downside target of 31.12. We should have a stop loss in place at 32.31 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, 32.22, 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 EUO
- Buy EUO slightly over 32.22, target n/a, Stop Loss @ 32.14 Details
If 32.22 begins to break higher, the technical summary data tells us to buy EUO just slightly over 32.22, with an upside target of n/a. The data also tells us to set a stop loss @ 32.14 in case the stock turns against the trade. 32.22 is the first level of resistance above 31.8367, and by rule, any break above resistance is a buy signal. In this case, 32.22, 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 EUO slightly near 32.22, target 31.12, Stop Loss @ 32.3. Details
The technical summary data is suggesting a short of EUO if it tests 32.22 with a downside target of 31.12. We should have a stop loss in place at 32.3 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, 32.22, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Proshares Ultrashort Euro -2x Shares (EUO) available here: EUO.
EUO Ratings for October 29:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Neutral |
| P1 |
0 |
0 |
30.15 |
| P2 |
31.91 |
31.9 |
31.12 |
| P3 |
0 |
32.22 |
32.06 |
AI Generated Signals for EUO
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Proshares Ultrashort Euro -2x Shares (NYSE: EUO) report below can help you understand how to do this. The trading plans for EUO, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for EUO:
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