How the price action of Proshares Ultra Oil & Gas (DIG) is used to our Advantage

September 14, 2022, 17:45 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

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  Proshares Ultra Oil & Gas (NYSE: DIG) data table below can help you with price action, and we have more details too. Trading plans for DIG 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.

Longer Term Trading Plans for DIG

• Buy DIG slightly over 32.09 target 39.84 stop loss @ 32 Details

The technical summary data tells us to buy DIG near 32.09 with an upside target of 39.84. This data also tells us to set a stop loss @ 32 to protect against excessive loss in case the stock begins to move against the trade. 32.09 is the first level of support below 39.52 , and by rule, any test of support is a buy signal. In this case, support 32.09 would be being tested, so a buy signal would exist.

• Short DIG under 39.84, target 32.09, stop loss @ 39.96 Details

The technical summary data is suggesting a short of DIG as it gets near 39.84 with a downside target of 32.09. We should have a stop loss in place at 39.96though. 39.84 is the first level of resistance above 39.52, and by rule, any test of resistance is a short signal. In this case, if resistance 39.84 is being tested, so a short signal would exist.

Swing Trading Plans for DIG

• Buy DIG slightly over 39.84, target 48.02, Stop Loss @ 39.72 Details

If 39.84 begins to break higher, the technical summary data tells us to buy DIG just slightly over 39.84, with an upside target of 48.02. The data also tells us to set a stop loss @ 39.72 in case the stock turns against the trade. 39.84 is the first level of resistance above 39.52, and by rule, any break above resistance is a buy signal. In this case, 39.84, 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 DIG near 39.84, target 39.38, Stop Loss @ 39.96. Details

The technical summary data is suggesting a short of DIG if it tests 39.84 with a downside target of 39.38. We should have a stop loss in place at 39.96 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, 39.84, 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 DIG

• Buy DIG slightly over 39.54, target 39.84, Stop Loss @ 39.45 Details

If 39.54 begins to break higher, the technical summary data tells us to buy DIG just slightly over 39.54, with an upside target of 39.84. The data also tells us to set a stop loss @ 39.45 in case the stock turns against the trade. 39.54 is the first level of resistance above 39.52, and by rule, any break above resistance is a buy signal. In this case, 39.54, 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 DIG near 39.54, target 35.55, Stop Loss @ 39.63. Details

The technical summary data is suggesting a short of DIG if it tests 39.54 with a downside target of 35.55. We should have a stop loss in place at 39.63 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, 39.54, 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.

DIG Ratings for September 14:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	32.09
P2	39.54	35.55	39.84
P3	40.96	39.38	48.02

Support and Resistance Plot Chart for DIG

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