Trend Tracker for Proshares Ultrashort Gold GLL

Source: Stock Traders Daily

Longer Term Trading Plans for GLL
  • Buy GLL over 32.21 target 34.81 stop loss @ 32.12 Details
  • The technical summary data tells us to buy GLL near 32.21 with an upside target of 34.81. This data also tells us to set a stop loss @ 32.12 to protect against excessive loss in case the stock begins to move against the trade. 32.21 is the first level of support below 33.3711 , and by rule, any test of support is a buy signal. In this case, support 32.21 would be being tested, so a buy signal would exist.

  • Short GLL under 34.81, target 32.21, stop loss @ 34.91 Details
  • The technical summary data is suggesting a short of GLL as it gets near 34.81 with a downside target of 32.21. We should have a stop loss in place at 34.91though. 34.81 is the first level of resistance above 33.3711, and by rule, any test of resistance is a short signal. In this case, if resistance 34.81 is being tested, so a short signal would exist.

Swing Trading Plans for GLL
  • Buy GLL over 34.81, target 37.48, Stop Loss @ 34.71 Details
  • If 34.81 begins to break higher, the technical summary data tells us to buy GLL just over 34.81, with an upside target of 37.48. The data also tells us to set a stop loss @ 34.71 in case the stock turns against the trade. 34.81 is the first level of resistance above 33.3711, and by rule, any break above resistance is a buy signal. In this case, 34.81, 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 GLL near 34.81, target 33.18, Stop Loss @ 34.91. Details
  • The technical summary data is suggesting a short of GLL if it tests 34.81 with a downside target of 33.18. We should have a stop loss in place at 34.91 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, 34.81, 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 GLL
  • Buy GLL over 34.81, target 37.48, Stop Loss @ 34.73 Details
  • If 34.81 begins to break higher, the technical summary data tells us to buy GLL just over 34.81, with an upside target of 37.48. The data also tells us to set a stop loss @ 34.73 in case the stock turns against the trade. 34.81 is the first level of resistance above 33.3711, and by rule, any break above resistance is a buy signal. In this case, 34.81, 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 GLL near 34.81, target 33.31, Stop Loss @ 34.89. Details
  • The technical summary data is suggesting a short of GLL if it tests 34.81 with a downside target of 33.31. We should have a stop loss in place at 34.89 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, 34.81, 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.

GLL Technical Summary | Raw Data for the Trading Plans

Term →Near Mid Long
Bias Neutral Weak Neutral
P1 0 0 32.21
P2 32.71 32.40 34.81
P3 33.31 33.18 37.48

GLL Long Term Analysis for July 22 2021


GLL Swing Trading Analysis for July 22 2021


GLL Day Trading Analysis for July 22 2021

The data for Proshares Ultrashort Gold (NYSE: GLL) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for GLL change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if GLL is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for GLL too.  All of these are offered below the Summary Table.

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