When the Price of (SPXL) Talks, People Listen

November 20, 2024, 21:54 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SPXL

• Buy SPXL near 169.55 target 182.73 stop loss @ 169.06 Details

The technical summary data tells us to buy SPXL near 169.55 with an upside target of 182.73. This data also tells us to set a stop loss @ 169.06 to protect against excessive loss in case the stock begins to move against the trade. 169.55 is the first level of support below 174.5 , and by rule, any test of support is a buy signal. In this case, support 169.55 is being tested, a buy signal would exist.

• Short SPXL slightly under 182.73, target 169.55, stop loss @ 183.26 Details

The technical summary data is suggesting a short of SPXL as it gets near 182.73 with a downside target of 169.55. We should have a stop loss in place at 183.26though. 182.73 is the first level of resistance above 174.5, and by rule, any test of resistance is a short signal. In this case, if resistance 182.73 is being tested, a short signal would exist.

Swing Trading Plans for SPXL

• Buy SPXL slightly over 181.33, target 182.73, Stop Loss @ 180.81 Details

If 181.33 begins to break higher, the technical summary data tells us to buy SPXL just slightly over 181.33, with an upside target of 182.73. The data also tells us to set a stop loss @ 180.81 in case the stock turns against the trade. 181.33 is the first level of resistance above 174.5, and by rule, any break above resistance is a buy signal. In this case, 181.33, 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 SPXL slightly near 181.33, target 169.55, Stop Loss @ 181.85. Details

The technical summary data is suggesting a short of SPXL if it tests 181.33 with a downside target of 169.55. We should have a stop loss in place at 181.85 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, 181.33, 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 SPXL

• Buy SPXL slightly over 181.33, target 182.73, Stop Loss @ 180.91 Details

If 181.33 begins to break higher, the technical summary data tells us to buy SPXL just slightly over 181.33, with an upside target of 182.73. The data also tells us to set a stop loss @ 180.91 in case the stock turns against the trade. 181.33 is the first level of resistance above 174.5, and by rule, any break above resistance is a buy signal. In this case, 181.33, 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 SPXL slightly near 181.33, target 173.25, Stop Loss @ 181.75. Details

The technical summary data is suggesting a short of SPXL if it tests 181.33 with a downside target of 173.25. We should have a stop loss in place at 181.75 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, 181.33, 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 Direxion Daily S&p 500 Bull 3x Shares (SPXL) available here: SPXL.

SPXL Ratings for November 20:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	154.92
P2	167.43	168.61	169.55
P3	173.25	181.33	182.73

AI Generated Signals for SPXL

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Direxion Daily S&p 500 Bull 3x Shares (NASDAQ: SPXL) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for SPXL can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.