When Direxion Daily S&p500 Bull 3x (SPXL) Moves Investors should Listen
September 19, 2022, 13:00 pm ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Direxion Daily S&p500 Bull 3x (NASDAQ: SPXL) report below is a real world example. Included are trading plans for SPXL, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Longer Term Trading Plans for SPXL
- Buy SPXL slightly over 52.69 target 71.93 stop loss @ 52.54 Details
The technical summary data tells us to buy SPXL near 52.69 with an upside target of 71.93. This data also tells us to set a stop loss @ 52.54 to protect against excessive loss in case the stock begins to move against the trade. 52.69 is the first level of support below 68.2199 , and by rule, any test of support is a buy signal. In this case, support 52.69 would be being tested, so a buy signal would exist.
- Short SPXL under 71.93, target 52.69, stop loss @ 72.14 Details
The technical summary data is suggesting a short of SPXL as it gets near 71.93 with a downside target of 52.69. We should have a stop loss in place at 72.14though. 71.93 is the first level of resistance above 68.2199, and by rule, any test of resistance is a short signal. In this case, if resistance 71.93 is being tested, so a short signal would exist.
Swing Trading Plans for SPXL
- Buy SPXL slightly over 71.93, target 76.52, Stop Loss @ 71.72 Details
If 71.93 begins to break higher, the technical summary data tells us to buy SPXL just slightly over 71.93, with an upside target of 76.52. The data also tells us to set a stop loss @ 71.72 in case the stock turns against the trade. 71.93 is the first level of resistance above 68.2199, and by rule, any break above resistance is a buy signal. In this case, 71.93, 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 SPXL near 71.93, target 68.08, Stop Loss @ 72.14. Details
The technical summary data is suggesting a short of SPXL if it tests 71.93 with a downside target of 68.08. We should have a stop loss in place at 72.14 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, 71.93, 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 SPXL
- Buy SPXL slightly over 71.93, target 76.52, Stop Loss @ 71.76 Details
If 71.93 begins to break higher, the technical summary data tells us to buy SPXL just slightly over 71.93, with an upside target of 76.52. The data also tells us to set a stop loss @ 71.76 in case the stock turns against the trade. 71.93 is the first level of resistance above 68.2199, and by rule, any break above resistance is a buy signal. In this case, 71.93, 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 SPXL near 71.93, target 68.08, Stop Loss @ 72.1. Details
The technical summary data is suggesting a short of SPXL if it tests 71.93 with a downside target of 68.08. We should have a stop loss in place at 72.1 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, 71.93, 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.
SPXL Ratings for September 19:
Term → | Near |
Mid |
Long |
Rating |
Weak |
Weak |
Weak |
P1 |
0 |
0 |
52.69 |
P2 |
63.50 |
68.08 |
71.93 |
P3 |
67.43 |
76.52 |
90.75 |
⚠Triggers may have already come
Support and Resistance Plot Chart for SPXL
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for SPXL: