When Direxion Daily Financial Bull ($FAS) Moves Investors should Listen
May 04, 2023, 21:15 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for FAS
- Buy FAS slightly over 46.03 target 65.07 stop loss @ 45.9 Details
The technical summary data tells us to buy FAS near 46.03 with an upside target of 65.07. This data also tells us to set a stop loss @ 45.9 to protect against excessive loss in case the stock begins to move against the trade. 46.03 is the first level of support below 53.56 , and by rule, any test of support is a buy signal. In this case, support 46.03 would be being tested, so a buy signal would exist.
- Short FAS slightly under 65.07, target 46.03, stop loss @ 65.26 Details
The technical summary data is suggesting a short of FAS as it gets near 65.07 with a downside target of 46.03. We should have a stop loss in place at 65.26though. 65.07 is the first level of resistance above 53.56, and by rule, any test of resistance is a short signal. In this case, if resistance 65.07 is being tested, so a short signal would exist.
Swing Trading Plans for FAS
- Buy FAS slightly over 53.87, target 58.49, Stop Loss @ 53.71 Details
If 53.87 begins to break higher, the technical summary data tells us to buy FAS just slightly over 53.87, with an upside target of 58.49. The data also tells us to set a stop loss @ 53.71 in case the stock turns against the trade. 53.87 is the first level of resistance above 53.56, and by rule, any break above resistance is a buy signal. In this case, 53.87, 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 FAS slightly near 53.87, target 46.03, Stop Loss @ 54.03. Details
The technical summary data is suggesting a short of FAS if it tests 53.87 with a downside target of 46.03. We should have a stop loss in place at 54.03 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, 53.87, 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 FAS
- Buy FAS slightly over 53.87, target 55.33, Stop Loss @ 53.74 Details
If 53.87 begins to break higher, the technical summary data tells us to buy FAS just slightly over 53.87, with an upside target of 55.33. The data also tells us to set a stop loss @ 53.74 in case the stock turns against the trade. 53.87 is the first level of resistance above 53.56, and by rule, any break above resistance is a buy signal. In this case, 53.87, 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 FAS slightly near 53.87, target 51.71, Stop Loss @ 54. Details
The technical summary data is suggesting a short of FAS if it tests 53.87 with a downside target of 51.71. We should have a stop loss in place at 54 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, 53.87, 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.
This is a snapshot. Real Time Updates are available on our FAS Page.
FAS Ratings for May 04:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Weak |
| P1 |
0 |
0 |
46.03 |
| P2 |
51.71 |
53.87 |
65.07 |
| P3 |
55.33 |
58.49 |
84.82 |
Support and Resistance Plot Chart for FAS
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 Direxion Daily Financial Bull (NYSE: FAS) report below is a real world example. Included are trading plans for FAS, 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 FAS:
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