How the (UPRO) price action is used to our Advantage
August 22, 2024, 00:36 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for UPRO
- Buy UPRO slightly over 79.98 target 87.07 stop loss @ 79.75 Details
The technical summary data tells us to buy UPRO near 79.98 with an upside target of 87.07. This data also tells us to set a stop loss @ 79.75 to protect against excessive loss in case the stock begins to move against the trade. 79.98 is the first level of support below 81.36 , and by rule, any test of support is a buy signal. In this case, support 79.98 is being tested, a buy signal would exist.
- Short UPRO slightly under 87.07, target 79.98, stop loss @ 87.32 Details
The technical summary data is suggesting a short of UPRO as it gets near 87.07 with a downside target of 79.98. We should have a stop loss in place at 87.32though. 87.07 is the first level of resistance above 81.36, and by rule, any test of resistance is a short signal. In this case, if resistance 87.07 is being tested, a short signal would exist.
Swing Trading Plans for UPRO
- Buy UPRO slightly over 83.76, target 87.07, Stop Loss @ 83.52 Details
If 83.76 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 83.76, with an upside target of 87.07. The data also tells us to set a stop loss @ 83.52 in case the stock turns against the trade. 83.76 is the first level of resistance above 81.36, and by rule, any break above resistance is a buy signal. In this case, 83.76, 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 UPRO slightly near 83.76, target 81.15, Stop Loss @ 84. Details
The technical summary data is suggesting a short of UPRO if it tests 83.76 with a downside target of 81.15. We should have a stop loss in place at 84 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, 83.76, 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 UPRO
- Buy UPRO slightly over 82.14, target 83.76, Stop Loss @ 81.95 Details
If 82.14 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 82.14, with an upside target of 83.76. The data also tells us to set a stop loss @ 81.95 in case the stock turns against the trade. 82.14 is the first level of resistance above 81.36, and by rule, any break above resistance is a buy signal. In this case, 82.14, 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 UPRO slightly near 82.14, target 81.25, Stop Loss @ 82.33. Details
The technical summary data is suggesting a short of UPRO if it tests 82.14 with a downside target of 81.25. We should have a stop loss in place at 82.33 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, 82.14, 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 Ultrapro S&p 500 Etf 3x Shares (UPRO) available here: UPRO.
UPRO Ratings for August 22:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
72.22 |
| P2 |
81.25 |
81.15 |
79.98 |
| P3 |
82.14 |
83.76 |
87.07 |
AI Generated Signals for UPRO
Blue = Current Price
Red= Resistance
Green = Support
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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 Ultrapro S&p 500 Etf 3x Shares (NASDAQ: UPRO) data table below can help you with price action, and we have more details too. Trading plans for UPRO 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.
Fundamental Charts for UPRO:
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