How the price action of Proshares Ultrashort Silver (ZSL) is used to our Advantage
June 01, 2022, 01:30 am ET, BY Simon M.- 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 Ultrashort Silver (NYSE: ZSL) data table below can help you with price action, and we have more details too. Trading plans for ZSL 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 ZSL
- Buy ZSL slightly over 25.87 target 30.26 stop loss @ 25.8 Details
The technical summary data tells us to buy ZSL near 25.87 with an upside target of 30.26. This data also tells us to set a stop loss @ 25.8 to protect against excessive loss in case the stock begins to move against the trade. 25.87 is the first level of support below 28.58 , and by rule, any test of support is a buy signal. In this case, support 25.87 is being tested, a buy signal would exist.
- Short ZSL under 30.26, target 25.87, stop loss @ 30.35 Details
The technical summary data is suggesting a short of ZSL as it gets near 30.26 with a downside target of 25.87. We should have a stop loss in place at 30.35though. 30.26 is the first level of resistance above 28.58, and by rule, any test of resistance is a short signal. In this case, if resistance 30.26 is being tested, a short signal would exist.
Swing Trading Plans for ZSL
- Buy ZSL slightly over 30.26, target n/a, Stop Loss @ 30.17 Details
If 30.26 begins to break higher, the technical summary data tells us to buy ZSL just slightly over 30.26, with an upside target of n/a. The data also tells us to set a stop loss @ 30.17 in case the stock turns against the trade. 30.26 is the first level of resistance above 28.58, and by rule, any break above resistance is a buy signal. In this case, 30.26, 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 ZSL near 30.26, target 28.04, Stop Loss @ 30.35. Details
The technical summary data is suggesting a short of ZSL if it tests 30.26 with a downside target of 28.04. We should have a stop loss in place at 30.35 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, 30.26, 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 ZSL
- Buy ZSL slightly over 30.26, target n/a, Stop Loss @ 30.19 Details
If 30.26 begins to break higher, the technical summary data tells us to buy ZSL just slightly over 30.26, with an upside target of n/a. The data also tells us to set a stop loss @ 30.19 in case the stock turns against the trade. 30.26 is the first level of resistance above 28.58, and by rule, any break above resistance is a buy signal. In this case, 30.26, 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 ZSL near 30.26, target 28.04, Stop Loss @ 30.33. Details
The technical summary data is suggesting a short of ZSL if it tests 30.26 with a downside target of 28.04. We should have a stop loss in place at 30.33 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, 30.26, 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.
ZSL Ratings for June 01:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Strong |
Neutral |
| P1 |
0 |
0 |
21.77 |
| P2 |
26.94 |
26.85 |
25.87 |
| P3 |
27.81 |
28.04 |
30.26 |
⚠Triggers may have already come
Support and Resistance Plot Chart for ZSL
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for ZSL:
