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How to trade Proshares Ultra Basic Material $UYM With Risk Controls

Price matters most to making money in the market. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Proshares Ultra Basic Material (NYSE: UYM) report below can help you, but we have more details too. The trading plans for UYM, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Technical Summary

Term →Near Mid Long
Rating Strong Strong Strong
P1 0 0 55.23
P2 81.04 80.47 66.64
P3 87.33 87.95 77.39
Triggers may have already come
Support and Resistance Plot Chart for UYM

Long Term Trading Plans for UYM

January 24, 2021, 10:15 pm ET

The Technical Summary and Trading Plans for UYM 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 UYM Report.

UYM - (Long) Support Plan

The technical summary data tells us to buy UYM near 66.64 with an upside target of 77.39. This data also tells us to set a stop loss @ 66.45 to protect against excessive loss in case the stock begins to move against the trade. 66.64 is the first level of support below 77.3678 , and by rule, any test of support is a buy signal. In this case, support 66.64 is being tested, a buy signal would exist.

UYM - (Short) Resistance Plan

The technical summary data is suggesting a short of UYM as it gets near 77.39 with a downside target of 66.64. We should have a stop loss in place at 77.61though. 77.39 is the first level of resistance above 77.3678, and by rule, any test of resistance is a short signal. In this case, if resistance 77.39 is being tested, a short signal would exist.


UYM Long Term Analysis for January 24 2021


UYM Dividend Chart for January 24 2021

UYM PE chart for January 24 2021

UYM PEG chart for January 24 2021