When the Price of Proshares Ultra Financials UYG Talks, People Listen

September 20, 2022, 09:15 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Proshares Ultra Financials (NYSE: UYG) 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 UYG 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. 

Longer Term Trading Plans for UYG

• Buy UYG slightly over 44.46 target 50.69 stop loss @ 44.33 Details

The technical summary data tells us to buy UYG near 44.46 with an upside target of 50.69. This data also tells us to set a stop loss @ 44.33 to protect against excessive loss in case the stock begins to move against the trade. 44.46 is the first level of support below 46.1 , and by rule, any test of support is a buy signal. In this case, support 44.46 is being tested, a buy signal would exist.

• Short UYG slightly under 50.69, target 44.46, stop loss @ 50.84 Details

The technical summary data is suggesting a short of UYG as it gets near 50.69 with a downside target of 44.46. We should have a stop loss in place at 50.84though. 50.69 is the first level of resistance above 46.1, and by rule, any test of resistance is a short signal. In this case, if resistance 50.69 is being tested, a short signal would exist.

Swing Trading Plans for UYG

• Buy UYG slightly over 48.28, target 50.69, Stop Loss @ 48.14 Details

If 48.28 begins to break higher, the technical summary data tells us to buy UYG just slightly over 48.28, with an upside target of 50.69. The data also tells us to set a stop loss @ 48.14 in case the stock turns against the trade. 48.28 is the first level of resistance above 46.1, and by rule, any break above resistance is a buy signal. In this case, 48.28, 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 UYG slightly near 48.28, target 44.69, Stop Loss @ 48.42. Details

The technical summary data is suggesting a short of UYG if it tests 48.28 with a downside target of 44.69. We should have a stop loss in place at 48.42 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, 48.28, 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 UYG

• Buy UYG slightly over 48.05, target 48.28, Stop Loss @ 47.94 Details

If 48.05 begins to break higher, the technical summary data tells us to buy UYG just slightly over 48.05, with an upside target of 48.28. The data also tells us to set a stop loss @ 47.94 in case the stock turns against the trade. 48.05 is the first level of resistance above 46.1, and by rule, any break above resistance is a buy signal. In this case, 48.05, 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 UYG slightly near 48.05, target 44.69, Stop Loss @ 48.16. Details

The technical summary data is suggesting a short of UYG if it tests 48.05 with a downside target of 44.69. We should have a stop loss in place at 48.16 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, 48.05, 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.

UYG Ratings for September 20:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	37.88
P2	44.61	44.69	44.46
P3	48.05	48.28	50.69

Support and Resistance Plot Chart for UYG

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