Learn to Evaluate Proshares Ultra S&p500 (SSO) using the Charts

May 11, 2022, 07:45 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Proshares Ultra S&p500 (NYSE: SSO) report below can help you understand how to do this. The trading plans for SSO, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for SSO

• Buy SSO slightly over 37.76 target 57.42 stop loss @ 37.65 Details

The technical summary data tells us to buy SSO near 37.76 with an upside target of 57.42. This data also tells us to set a stop loss @ 37.65 to protect against excessive loss in case the stock begins to move against the trade. 37.76 is the first level of support below 52 , and by rule, any test of support is a buy signal. In this case, support 37.76 would be being tested, so a buy signal would exist.

• Short SSO under 57.42, target 37.76, stop loss @ 57.59 Details

The technical summary data is suggesting a short of SSO as it gets near 57.42 with a downside target of 37.76. We should have a stop loss in place at 57.59though. 57.42 is the first level of resistance above 52, and by rule, any test of resistance is a short signal. In this case, if resistance 57.42 is being tested, so a short signal would exist.

Swing Trading Plans for SSO

• Buy SSO slightly over 52.32, target 57.42, Stop Loss @ 52.17 Details

If 52.32 begins to break higher, the technical summary data tells us to buy SSO just slightly over 52.32, with an upside target of 57.42. The data also tells us to set a stop loss @ 52.17 in case the stock turns against the trade. 52.32 is the first level of resistance above 52, and by rule, any break above resistance is a buy signal. In this case, 52.32, 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 SSO near 52.32, target 48.82, Stop Loss @ 52.47. Details

The technical summary data is suggesting a short of SSO if it tests 52.32 with a downside target of 48.82. We should have a stop loss in place at 52.47 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, 52.32, 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 SSO

• Buy SSO slightly over 52.32, target 57.42, Stop Loss @ 52.2 Details

If 52.32 begins to break higher, the technical summary data tells us to buy SSO just slightly over 52.32, with an upside target of 57.42. The data also tells us to set a stop loss @ 52.2 in case the stock turns against the trade. 52.32 is the first level of resistance above 52, and by rule, any break above resistance is a buy signal. In this case, 52.32, 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 SSO near 52.32, target 51.66, Stop Loss @ 52.44. Details

The technical summary data is suggesting a short of SSO if it tests 52.32 with a downside target of 51.66. We should have a stop loss in place at 52.44 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, 52.32, 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.

SSO Ratings for May 11:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	37.76
P2	49.43	48.82	57.42
P3	51.66	52.32	78.35

Support and Resistance Plot Chart for SSO

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.