How the (ERY) price action is used to our Advantage
May 20, 2024, 18:00 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ERY
- Buy ERY slightly over 20.07 target 22.96 stop loss @ 20.01 Details
The technical summary data tells us to buy ERY near 20.07 with an upside target of 22.96. This data also tells us to set a stop loss @ 20.01 to protect against excessive loss in case the stock begins to move against the trade. 20.07 is the first level of support below 21.95 , and by rule, any test of support is a buy signal. In this case, support 20.07 would be being tested, so a buy signal would exist.
- Short ERY slightly under 22.96, target 20.07, stop loss @ 23.03 Details
The technical summary data is suggesting a short of ERY as it gets near 22.96 with a downside target of 20.07. We should have a stop loss in place at 23.03though. 22.96 is the first level of resistance above 21.95, and by rule, any test of resistance is a short signal. In this case, if resistance 22.96 is being tested, so a short signal would exist.
Swing Trading Plans for ERY
- Buy ERY slightly over 22.25, target 22.96, Stop Loss @ 22.19 Details
If 22.25 begins to break higher, the technical summary data tells us to buy ERY just slightly over 22.25, with an upside target of 22.96. The data also tells us to set a stop loss @ 22.19 in case the stock turns against the trade. 22.25 is the first level of resistance above 21.95, and by rule, any break above resistance is a buy signal. In this case, 22.25, 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 ERY slightly near 22.25, target 21.66, Stop Loss @ 22.31. Details
The technical summary data is suggesting a short of ERY if it tests 22.25 with a downside target of 21.66. We should have a stop loss in place at 22.31 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, 22.25, 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 ERY
- Buy ERY slightly over 22.25, target 22.96, Stop Loss @ 22.2 Details
If 22.25 begins to break higher, the technical summary data tells us to buy ERY just slightly over 22.25, with an upside target of 22.96. The data also tells us to set a stop loss @ 22.2 in case the stock turns against the trade. 22.25 is the first level of resistance above 21.95, and by rule, any break above resistance is a buy signal. In this case, 22.25, 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 ERY slightly near 22.25, target 21.95, Stop Loss @ 22.3. Details
The technical summary data is suggesting a short of ERY if it tests 22.25 with a downside target of 21.95. We should have a stop loss in place at 22.3 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, 22.25, 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 Energy Bear -2x Shares (ERY) available here: ERY.
ERY Ratings for May 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Weak |
| P1 |
0 |
0 |
20.07 |
| P2 |
21.63 |
21.66 |
22.96 |
| P3 |
21.95 |
22.25 |
26.12 |
AI Generated Signals for ERY
Blue = Current Price
Red= Resistance
Green = Support
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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 Direxion Daily Energy Bear -2x Shares (NYSE: ERY) data table below can help you with price action, and we have more details too. Trading plans for ERY 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.
Fundamental Charts for ERY:
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