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(ROM) Proactive Strategies

Longer Term Trading Plans for ROM
  • Buy ROM near 69.23 target 76.83 stop loss @ 69.03 Details
  • The technical summary data tells us to buy ROM near 69.23 with an upside target of 76.83. This data also tells us to set a stop loss @ 69.03 to protect against excessive loss in case the stock begins to move against the trade. 69.23 is the first level of support below 71.16 , and by rule, any test of support is a buy signal. In this case, support 69.23 is being tested, a buy signal would exist.

  • Short ROM slightly under 76.83, target 69.23, stop loss @ 77.05 Details
  • The technical summary data is suggesting a short of ROM as it gets near 76.83 with a downside target of 69.23. We should have a stop loss in place at 77.05though. 76.83 is the first level of resistance above 71.16, and by rule, any test of resistance is a short signal. In this case, if resistance 76.83 is being tested, a short signal would exist.

Swing Trading Plans for ROM
  • Buy ROM slightly over 76.83, target n/a, Stop Loss @ 76.61 Details
  • If 76.83 begins to break higher, the technical summary data tells us to buy ROM just slightly over 76.83, with an upside target of n/a. The data also tells us to set a stop loss @ 76.61 in case the stock turns against the trade. 76.83 is the first level of resistance above 71.16, and by rule, any break above resistance is a buy signal. In this case, 76.83, 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 ROM slightly near 76.83, target 70.74, Stop Loss @ 77.05. Details
  • The technical summary data is suggesting a short of ROM if it tests 76.83 with a downside target of 70.74. We should have a stop loss in place at 77.05 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, 76.83, 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 ROM
  • Buy ROM slightly over 71.54, target 76.83, Stop Loss @ 71.37 Details
  • If 71.54 begins to break higher, the technical summary data tells us to buy ROM just slightly over 71.54, with an upside target of 76.83. The data also tells us to set a stop loss @ 71.37 in case the stock turns against the trade. 71.54 is the first level of resistance above 71.16, and by rule, any break above resistance is a buy signal. In this case, 71.54, 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 ROM slightly near 71.54, target 70.74, Stop Loss @ 71.71. Details
  • The technical summary data is suggesting a short of ROM if it tests 71.54 with a downside target of 70.74. We should have a stop loss in place at 71.71 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, 71.54, 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 Technology 2x Shares (ROM) available here: ROM.

ROM Ratings for October 30:

Term →Near Mid Long
Rating Strong Neutral Strong
P1 0 0 61.19
P2 70.08 68.6 69.23
P3 71.54 70.74 76.83
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AI Generated Signals for ROM

ROM Long Term Analysis for October 30 2024

Blue = Current Price
Red= Resistance
Green = Support

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Don't over think it!  Trading Proshares Ultra Technology 2x Shares (NYSE: ROM) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ROM change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ROM 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 ROM too.  All of these are offered below the Summary Table.