pool adsProshares Ultrashort Euro $EUO Trading Report
The Proshares Ultrashort Euro (NYSE: EUO) 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 EUO, 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 | Strong | Strong | Neutral |
| P1 | 0 | 0 | 27.24 |
| P2 | 29.24 | 29.32 | 27.83 |
| P3 | 0 | 28.43 |
Support and Resistance Plot Chart for EUO
Long Term Trading Plans for EUO
February 22, 2020, 2:30 pm ET
The Technical Summary and Trading Plans for EUO 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 EUO Report.
EUO - (Long) Support Plan
The technical summary data tells us to buy EUO near 28.43, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 28.17 to protect against excessive loss in case the stock begins to move against the trade. 28.43 is the first level of support below 28.8, and by rule, any test of support is a buy signal. In this case, if support 28.43 is being tested, a buy signal would exist.
EUO - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
