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Proshares Ultra S&p500 $SSO Technical Update
The Proshares Ultra S&p500 (NYSE: SSO) 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 SSO, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Neutral | Neutral |
| P1 | 115.63 | 122.28 | 117.58 |
| P2 | 121.19 | 131.96 | 131.06 |
| P3 | 126.92 | 140.64 | 143.59 |
⚠Triggers may have already come
Support and Resistance Plot Chart for SSO
Long Term Trading Plans for SSO
August 6, 2019, 8:45 pm ET
The Technical Summary and Trading Plans for SSO 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 SSO Report.
SSO - (Long) Support Plan
The technical summary data tells us to buy SSO near 117.58 with an upside target of 131.06. This data also tells us to set a stop loss @ 117.32 to protect against excessive loss in case the stock begins to move against the trade. 117.58 is the first level of support below 120.78 , and by rule, any test of support is a buy signal. In this case, support 117.58 would be being tested, so a buy signal would exist.
SSO - (Short) Resistance Plan
The technical summary data is suggesting a short of SSO as it gets near 131.06 with a downside target of 117.58. We should have a stop loss in place at 131.32 though. 131.06 is the first level of resistance above 120.78, and by rule, any test of resistance is a short signal. In this case, if resistance 131.06 is being tested, so a short signal would exist.
