(UPRO) Technical Pivots with Risk Controls

October 08, 2024, 20:30 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for UPRO

• Buy UPRO near 85.26 target 91.99 stop loss @ 85.01 Details

The technical summary data tells us to buy UPRO near 85.26 with an upside target of 91.99. This data also tells us to set a stop loss @ 85.01 to protect against excessive loss in case the stock begins to move against the trade. 85.26 is the first level of support below 85.53 , and by rule, any test of support is a buy signal. In this case, support 85.26 is being tested, a buy signal would exist.

• Short UPRO slightly under 91.99, target 85.26, stop loss @ 92.26 Details

The technical summary data is suggesting a short of UPRO as it gets near 91.99 with a downside target of 85.26. We should have a stop loss in place at 92.26though. 91.99 is the first level of resistance above 85.53, and by rule, any test of resistance is a short signal. In this case, if resistance 91.99 is being tested, a short signal would exist.

Swing Trading Plans for UPRO

• Buy UPRO slightly over 91.99, target n/a, Stop Loss @ 91.72 Details

If 91.99 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 91.99, with an upside target of n/a. The data also tells us to set a stop loss @ 91.72 in case the stock turns against the trade. 91.99 is the first level of resistance above 85.53, and by rule, any break above resistance is a buy signal. In this case, 91.99, 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 91.99, target 85.26, Stop Loss @ 92.26. Details

The technical summary data is suggesting a short of UPRO if it tests 91.99 with a downside target of 85.26. We should have a stop loss in place at 92.26 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, 91.99, 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 85.59, target 91.99, Stop Loss @ 85.39 Details

If 85.59 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 85.59, with an upside target of 91.99. The data also tells us to set a stop loss @ 85.39 in case the stock turns against the trade. 85.59 is the first level of resistance above 85.53, and by rule, any break above resistance is a buy signal. In this case, 85.59, 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 85.59, target 85.26, Stop Loss @ 85.79. Details

The technical summary data is suggesting a short of UPRO if it tests 85.59 with a downside target of 85.26. We should have a stop loss in place at 85.79 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, 85.59, 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 October 08:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	77.73
P2	84.23	82.95	85.26
P3	85.59	85.11	91.99

AI Generated Signals for UPRO

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The technical pivots for Proshares Ultrapro S&p 500 Etf 3x Shares (NASDAQ: UPRO) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

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

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

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