(OILK) Pivots Trading Plans and Risk Controls

October 26, 2024, 03:20 am ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for OILK

• Buy OILK near 42.49 target 45.61 stop loss @ 42.37 Details

The technical summary data tells us to buy OILK near 42.49 with an upside target of 45.61. This data also tells us to set a stop loss @ 42.37 to protect against excessive loss in case the stock begins to move against the trade. 42.49 is the first level of support below 44.32 , and by rule, any test of support is a buy signal. In this case, support 42.49 would be being tested, so a buy signal would exist.

• Short OILK slightly under 45.61, target 42.49, stop loss @ 45.74 Details

The technical summary data is suggesting a short of OILK as it gets near 45.61 with a downside target of 42.49. We should have a stop loss in place at 45.74though. 45.61 is the first level of resistance above 44.32, and by rule, any test of resistance is a short signal. In this case, if resistance 45.61 is being tested, so a short signal would exist.

Swing Trading Plans for OILK

• Buy OILK slightly over 45.61, target 48.46, Stop Loss @ 45.48 Details

If 45.61 begins to break higher, the technical summary data tells us to buy OILK just slightly over 45.61, with an upside target of 48.46. The data also tells us to set a stop loss @ 45.48 in case the stock turns against the trade. 45.61 is the first level of resistance above 44.32, and by rule, any break above resistance is a buy signal. In this case, 45.61, 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 OILK slightly near 45.61, target 43.81, Stop Loss @ 45.74. Details

The technical summary data is suggesting a short of OILK if it tests 45.61 with a downside target of 43.81. We should have a stop loss in place at 45.74 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, 45.61, 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 OILK

• Buy OILK slightly over 44.43, target 45.61, Stop Loss @ 44.33 Details

If 44.43 begins to break higher, the technical summary data tells us to buy OILK just slightly over 44.43, with an upside target of 45.61. The data also tells us to set a stop loss @ 44.33 in case the stock turns against the trade. 44.43 is the first level of resistance above 44.32, and by rule, any break above resistance is a buy signal. In this case, 44.43, 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 OILK slightly near 44.43, target 43.81, Stop Loss @ 44.53. Details

The technical summary data is suggesting a short of OILK if it tests 44.43 with a downside target of 43.81. We should have a stop loss in place at 44.53 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, 44.43, 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 K-1 Free Crude Oil Strategy Etf (OILK) available here: OILK.

OILK Ratings for October 26:

Term →	Near	Mid	Long
Rating	Strong	Weak	Neutral
P1	0	0	42.49
P2	43.58	42.07	45.61
P3	44.43	43.81	48.46

AI Generated Signals for OILK

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

This Proshares K-1 Free Crude Oil Strategy Etf (NASDAQ: OILK) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for OILK 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 OILK 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 OILK too.  All of these are offered below the Summary Table.