When (SDS) Moves Investors should Listen
February 06, 2024, 22:04 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SDS
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short SDS slightly under 28.01, target n/a, stop loss @ 28.09 Details
The technical summary data is suggesting a short of SDS as it gets near 28.01, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 28.09. 28.01 is the first level of resistance above 27.99, and by rule, any test of resistance is a short signal. In this case, if resistance 28.01 is being tested, so a short signal would exist.
Swing Trading Plans for SDS
- Buy SDS slightly over 28.01, target 28.42, Stop Loss @ 27.93 Details
If 28.01 begins to break higher, the technical summary data tells us to buy SDS just slightly over 28.01, with an upside target of 28.42. The data also tells us to set a stop loss @ 27.93 in case the stock turns against the trade. 28.01 is the first level of resistance above 27.99, and by rule, any break above resistance is a buy signal. In this case, 28.01, 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 SDS slightly near 28.01, target 27.81, Stop Loss @ 28.09. Details
The technical summary data is suggesting a short of SDS if it tests 28.01 with a downside target of 27.81. We should have a stop loss in place at 28.09 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, 28.01, 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 SDS
- Buy SDS slightly over 28.12, target 28.42, Stop Loss @ 28.05 Details
If 28.12 begins to break higher, the technical summary data tells us to buy SDS just slightly over 28.12, with an upside target of 28.42. The data also tells us to set a stop loss @ 28.05 in case the stock turns against the trade. 28.12 is the first level of resistance above 27.99, and by rule, any break above resistance is a buy signal. In this case, 28.12, 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 SDS slightly near 28.12, target 27.81, Stop Loss @ 28.19. Details
The technical summary data is suggesting a short of SDS if it tests 28.12 with a downside target of 27.81. We should have a stop loss in place at 28.19 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, 28.12, 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 Ultrashort S&p500 -2x Shares (SDS) available here: SDS.
SDS Ratings for February 06:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Weak |
| P1 |
0 |
0 |
28.01 |
| P2 |
27.6 |
27.81 |
30.42 |
| P3 |
28.12 |
28.42 |
33.34 |
AI Generated Signals for SDS
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Proshares Ultrashort S&p500 -2x Shares (NYSE: SDS) report below is a real world example. Included are trading plans for SDS, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SDS:
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