How the price action of Proshares Ultra Qqq ($QLD) is used to our Advantage
September 20, 2023, 19:00 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for QLD
- Buy QLD slightly over 59.18 target 65.23 stop loss @ 59.01 Details
The technical summary data tells us to buy QLD near 59.18 with an upside target of 65.23. This data also tells us to set a stop loss @ 59.01 to protect against excessive loss in case the stock begins to move against the trade. 59.18 is the first level of support below 61.36 , and by rule, any test of support is a buy signal. In this case, support 59.18 would be being tested, so a buy signal would exist.
- Short QLD slightly under 65.23, target 59.18, stop loss @ 65.42 Details
The technical summary data is suggesting a short of QLD as it gets near 65.23 with a downside target of 59.18. We should have a stop loss in place at 65.42though. 65.23 is the first level of resistance above 61.36, and by rule, any test of resistance is a short signal. In this case, if resistance 65.23 is being tested, so a short signal would exist.
Swing Trading Plans for QLD
- Buy QLD slightly over 62.28, target 64.20, Stop Loss @ 62.1 Details
If 62.28 begins to break higher, the technical summary data tells us to buy QLD just slightly over 62.28, with an upside target of 64.20. The data also tells us to set a stop loss @ 62.1 in case the stock turns against the trade. 62.28 is the first level of resistance above 61.36, and by rule, any break above resistance is a buy signal. In this case, 62.28, 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 QLD slightly near 62.28, target 59.18, Stop Loss @ 62.46. Details
The technical summary data is suggesting a short of QLD if it tests 62.28 with a downside target of 59.18. We should have a stop loss in place at 62.46 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, 62.28, 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 QLD
- Buy QLD slightly over 61.86, target 62.28, Stop Loss @ 61.72 Details
If 61.86 begins to break higher, the technical summary data tells us to buy QLD just slightly over 61.86, with an upside target of 62.28. The data also tells us to set a stop loss @ 61.72 in case the stock turns against the trade. 61.86 is the first level of resistance above 61.36, and by rule, any break above resistance is a buy signal. In this case, 61.86, 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 QLD slightly near 61.86, target 59.18, Stop Loss @ 62. Details
The technical summary data is suggesting a short of QLD if it tests 61.86 with a downside target of 59.18. We should have a stop loss in place at 62 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, 61.86, 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 Proshares Ultra Qqq (QLD) available here: QLD.
QLD Ratings for September 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Strong |
| P1 |
0 |
0 |
59.18 |
| P2 |
61.86 |
62.28 |
65.23 |
| P3 |
63.20 |
64.20 |
71.69 |
AI Generated Signals for QLD
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 Proshares Ultra Qqq (NYSE: QLD) data table below can help you with price action, and we have more details too. Trading plans for QLD 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 QLD:
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