Learn to Evaluate (UGL) using the Charts

January 16, 2024, 10:10 am ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for UGL

• Buy UGL slightly over 59.7 target 64.4 stop loss @ 59.53 Details

The technical summary data tells us to buy UGL near 59.7 with an upside target of 64.4. This data also tells us to set a stop loss @ 59.53 to protect against excessive loss in case the stock begins to move against the trade. 59.7 is the first level of support below 62.025 , and by rule, any test of support is a buy signal. In this case, support 59.7 is being tested, a buy signal would exist.

• Short UGL slightly under 64.4, target 59.7, stop loss @ 64.59 Details

The technical summary data is suggesting a short of UGL as it gets near 64.4 with a downside target of 59.7. We should have a stop loss in place at 64.59though. 64.4 is the first level of resistance above 62.025, and by rule, any test of resistance is a short signal. In this case, if resistance 64.4 is being tested, a short signal would exist.

Swing Trading Plans for UGL

• Buy UGL slightly over 64.4, target n/a, Stop Loss @ 64.21 Details

If 64.4 begins to break higher, the technical summary data tells us to buy UGL just slightly over 64.4, with an upside target of n/a. The data also tells us to set a stop loss @ 64.21 in case the stock turns against the trade. 64.4 is the first level of resistance above 62.025, and by rule, any break above resistance is a buy signal. In this case, 64.4, 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 UGL slightly near 64.4, target 61.8, Stop Loss @ 64.59. Details

The technical summary data is suggesting a short of UGL if it tests 64.4 with a downside target of 61.8. We should have a stop loss in place at 64.59 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, 64.4, 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 UGL

• Buy UGL slightly over 62.66, target 64.4, Stop Loss @ 62.51 Details

If 62.66 begins to break higher, the technical summary data tells us to buy UGL just slightly over 62.66, with an upside target of 64.4. The data also tells us to set a stop loss @ 62.51 in case the stock turns against the trade. 62.66 is the first level of resistance above 62.025, and by rule, any break above resistance is a buy signal. In this case, 62.66, 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 UGL slightly near 62.66, target 61.8, Stop Loss @ 62.81. Details

The technical summary data is suggesting a short of UGL if it tests 62.66 with a downside target of 61.8. We should have a stop loss in place at 62.81 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, 62.66, 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.

Check the time stamp on this data. Updated AI-Generated Signals for  Proshares Ultra Gold 2x Shares (UGL) available here: UGL.

UGL Ratings for January 16:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Neutral
P1	0	0	55.2
P2	61.44	60.19	59.7
P3	62.66	61.8	64.4

AI Generated Signals for UGL

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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 Gold 2x Shares (NYSE: UGL) report below can help you understand how to do this. The trading plans for UGL, 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.