When the Price of Proshares Ultra S&p 500 $SSO Talks, People Listen
November 08, 2023, 08:00 am ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SSO
- Buy SSO slightly over 53.61 target 57.88 stop loss @ 53.46 Details
The technical summary data tells us to buy SSO near 53.61 with an upside target of 57.88. This data also tells us to set a stop loss @ 53.46 to protect against excessive loss in case the stock begins to move against the trade. 53.61 is the first level of support below 55.3 , and by rule, any test of support is a buy signal. In this case, support 53.61 would be being tested, so a buy signal would exist.
- Short SSO slightly under 57.88, target 53.61, stop loss @ 58.05 Details
The technical summary data is suggesting a short of SSO as it gets near 57.88 with a downside target of 53.61. We should have a stop loss in place at 58.05though. 57.88 is the first level of resistance above 55.3, and by rule, any test of resistance is a short signal. In this case, if resistance 57.88 is being tested, so a short signal would exist.
Swing Trading Plans for SSO
- Buy SSO slightly over 57.88, target 62.00, Stop Loss @ 57.71 Details
If 57.88 begins to break higher, the technical summary data tells us to buy SSO just slightly over 57.88, with an upside target of 62.00. The data also tells us to set a stop loss @ 57.71 in case the stock turns against the trade. 57.88 is the first level of resistance above 55.3, and by rule, any break above resistance is a buy signal. In this case, 57.88, 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 slightly near 57.88, target 53.61, Stop Loss @ 58.05. Details
The technical summary data is suggesting a short of SSO if it tests 57.88 with a downside target of 53.61. We should have a stop loss in place at 58.05 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, 57.88, 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 57.88, target 62.00, Stop Loss @ 57.74 Details
If 57.88 begins to break higher, the technical summary data tells us to buy SSO just slightly over 57.88, with an upside target of 62.00. The data also tells us to set a stop loss @ 57.74 in case the stock turns against the trade. 57.88 is the first level of resistance above 55.3, and by rule, any break above resistance is a buy signal. In this case, 57.88, 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 slightly near 57.88, target 53.61, Stop Loss @ 58.02. Details
The technical summary data is suggesting a short of SSO if it tests 57.88 with a downside target of 53.61. We should have a stop loss in place at 58.02 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, 57.88, 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 S&p 500 (SSO) available here: SSO.
SSO Ratings for November 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Strong |
| P1 |
0 |
0 |
53.61 |
| P2 |
49.51 |
48.42 |
57.88 |
| P3 |
53.02 |
51.57 |
62.00 |
AI Generated Signals for SSO
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Proshares Ultra S&p 500 (NYSE: SSO) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for SSO can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SSO:
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