How the price action of Proshares Ultra Financials (UYG) is used to our Advantage

August 12, 2022, 15:00 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Proshares Ultra Financials (NYSE: UYG) data table below can help you with price action, and we have more details too. Trading plans for UYG are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for UYG

• Buy UYG slightly over 47.92 target 55.07 stop loss @ 47.78 Details

The technical summary data tells us to buy UYG near 47.92 with an upside target of 55.07. This data also tells us to set a stop loss @ 47.78 to protect against excessive loss in case the stock begins to move against the trade. 47.92 is the first level of support below 53.81 , and by rule, any test of support is a buy signal. In this case, support 47.92 is being tested, a buy signal would exist.

• Short UYG under 55.07, target 47.92, stop loss @ 55.23 Details

The technical summary data is suggesting a short of UYG as it gets near 55.07 with a downside target of 47.92. We should have a stop loss in place at 55.23though. 55.07 is the first level of resistance above 53.81, and by rule, any test of resistance is a short signal. In this case, if resistance 55.07 is being tested, a short signal would exist.

Swing Trading Plans for UYG

• Buy UYG slightly over 55.07, target n/a, Stop Loss @ 54.91 Details

If 55.07 begins to break higher, the technical summary data tells us to buy UYG just slightly over 55.07, with an upside target of n/a. The data also tells us to set a stop loss @ 54.91 in case the stock turns against the trade. 55.07 is the first level of resistance above 53.81, and by rule, any break above resistance is a buy signal. In this case, 55.07, 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 UYG near 55.07, target 51.97, Stop Loss @ 55.23. Details

The technical summary data is suggesting a short of UYG if it tests 55.07 with a downside target of 51.97. We should have a stop loss in place at 55.23 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, 55.07, 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 UYG

• Buy UYG slightly over 55.07, target n/a, Stop Loss @ 54.94 Details

If 55.07 begins to break higher, the technical summary data tells us to buy UYG just slightly over 55.07, with an upside target of n/a. The data also tells us to set a stop loss @ 54.94 in case the stock turns against the trade. 55.07 is the first level of resistance above 53.81, and by rule, any break above resistance is a buy signal. In this case, 55.07, 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 UYG near 55.07, target 51.97, Stop Loss @ 55.2. Details

The technical summary data is suggesting a short of UYG if it tests 55.07 with a downside target of 51.97. We should have a stop loss in place at 55.2 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, 55.07, 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.

UYG Ratings for August 12:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	40.90
P2	50.25	50.25	47.92
P3	51.84	51.97	55.07

Support and Resistance Plot Chart for UYG

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