Trading United States Oil $USO With Integrated Risk Controls

April 03, 2023, 09:06 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. 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 United States Oil (NYSE: USO) report below can help you, but we have more details too. The trading plans for USO, 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.

Longer Term Trading Plans for USO

• Buy USO slightly over 69.65 target 78.18 stop loss @ 69.45 Details

The technical summary data tells us to buy USO near 69.65 with an upside target of 78.18. This data also tells us to set a stop loss @ 69.45 to protect against excessive loss in case the stock begins to move against the trade. 69.65 is the first level of support below 70.05 , and by rule, any test of support is a buy signal. In this case, support 69.65 is being tested, a buy signal would exist.

• Short USO slightly under 78.18, target 69.65, stop loss @ 78.41 Details

The technical summary data is suggesting a short of USO as it gets near 78.18 with a downside target of 69.65. We should have a stop loss in place at 78.41though. 78.18 is the first level of resistance above 70.05, and by rule, any test of resistance is a short signal. In this case, if resistance 78.18 is being tested, a short signal would exist.

Swing Trading Plans for USO

• Buy USO slightly over 78.18, target n/a, Stop Loss @ 77.95 Details

If 78.18 begins to break higher, the technical summary data tells us to buy USO just slightly over 78.18, with an upside target of n/a. The data also tells us to set a stop loss @ 77.95 in case the stock turns against the trade. 78.18 is the first level of resistance above 70.05, and by rule, any break above resistance is a buy signal. In this case, 78.18, 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 USO slightly near 78.18, target 69.65, Stop Loss @ 78.41. Details

The technical summary data is suggesting a short of USO if it tests 78.18 with a downside target of 69.65. We should have a stop loss in place at 78.41 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, 78.18, 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 USO

• Buy USO slightly over 78.18, target n/a, Stop Loss @ 78 Details

If 78.18 begins to break higher, the technical summary data tells us to buy USO just slightly over 78.18, with an upside target of n/a. The data also tells us to set a stop loss @ 78 in case the stock turns against the trade. 78.18 is the first level of resistance above 70.05, and by rule, any break above resistance is a buy signal. In this case, 78.18, 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 USO slightly near 78.18, target 69.65, Stop Loss @ 78.36. Details

The technical summary data is suggesting a short of USO if it tests 78.18 with a downside target of 69.65. We should have a stop loss in place at 78.36 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, 78.18, 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.

USO Ratings for April 03:

Term →	Near	Mid	Long
Rating	Strong	Weak	Neutral
P1	0	0	61.49
P2	65.42	62.74	69.65
P3	67.55	66.45	78.18

Support and Resistance Plot Chart for USO

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