How the price action of Proshares Ultrapro Dow30 (UDOW) is used to our Advantage

August 31, 2022, 19:30 pm ET, BY Jeff W.- 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 Ultrapro Dow30 (NASDAQ: UDOW) data table below can help you with price action, and we have more details too. Trading plans for UDOW 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 UDOW

• Buy UDOW slightly over 44.58 target 54.80 stop loss @ 44.45 Details

The technical summary data tells us to buy UDOW near 44.58 with an upside target of 54.80. This data also tells us to set a stop loss @ 44.45 to protect against excessive loss in case the stock begins to move against the trade. 44.58 is the first level of support below 51.33 , and by rule, any test of support is a buy signal. In this case, support 44.58 would be being tested, so a buy signal would exist.

• Short UDOW under 54.80, target 44.58, stop loss @ 54.96 Details

The technical summary data is suggesting a short of UDOW as it gets near 54.80 with a downside target of 44.58. We should have a stop loss in place at 54.96though. 54.80 is the first level of resistance above 51.33, and by rule, any test of resistance is a short signal. In this case, if resistance 54.80 is being tested, so a short signal would exist.

Swing Trading Plans for UDOW

• Buy UDOW slightly over 51.36, target 54.36, Stop Loss @ 51.21 Details

If 51.36 begins to break higher, the technical summary data tells us to buy UDOW just slightly over 51.36, with an upside target of 54.36. The data also tells us to set a stop loss @ 51.21 in case the stock turns against the trade. 51.36 is the first level of resistance above 51.33, and by rule, any break above resistance is a buy signal. In this case, 51.36, 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 UDOW near 51.36, target 44.58, Stop Loss @ 51.51. Details

The technical summary data is suggesting a short of UDOW if it tests 51.36 with a downside target of 44.58. We should have a stop loss in place at 51.51 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, 51.36, 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 UDOW

• Buy UDOW slightly over 51.36, target 52.62, Stop Loss @ 51.24 Details

If 51.36 begins to break higher, the technical summary data tells us to buy UDOW just slightly over 51.36, with an upside target of 52.62. The data also tells us to set a stop loss @ 51.24 in case the stock turns against the trade. 51.36 is the first level of resistance above 51.33, and by rule, any break above resistance is a buy signal. In this case, 51.36, 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 UDOW near 51.36, target 50.42, Stop Loss @ 51.48. Details

The technical summary data is suggesting a short of UDOW if it tests 51.36 with a downside target of 50.42. We should have a stop loss in place at 51.48 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, 51.36, 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.

UDOW Ratings for August 31:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	44.58
P2	50.42	51.36	54.80
P3	52.62	54.36	64.55

Support and Resistance Plot Chart for UDOW

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