When the Price of Proshares Ultrashort Gold GLL Talks, People Listen
November 12, 2022, 22:30 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for GLL
- Buy GLL slightly over 30.88 target 34.46 stop loss @ 30.79 Details
The technical summary data tells us to buy GLL near 30.88 with an upside target of 34.46. This data also tells us to set a stop loss @ 30.79 to protect against excessive loss in case the stock begins to move against the trade. 30.88 is the first level of support below 32.77 , and by rule, any test of support is a buy signal. In this case, support 30.88 would be being tested, so a buy signal would exist.
- Short GLL slightly under 34.46, target 30.88, stop loss @ 34.56 Details
The technical summary data is suggesting a short of GLL as it gets near 34.46 with a downside target of 30.88. We should have a stop loss in place at 34.56though. 34.46 is the first level of resistance above 32.77, and by rule, any test of resistance is a short signal. In this case, if resistance 34.46 is being tested, so a short signal would exist.
Swing Trading Plans for GLL
- Buy GLL slightly over 34.24, target 34.46, Stop Loss @ 34.14 Details
If 34.24 begins to break higher, the technical summary data tells us to buy GLL just slightly over 34.24, with an upside target of 34.46. The data also tells us to set a stop loss @ 34.14 in case the stock turns against the trade. 34.24 is the first level of resistance above 32.77, and by rule, any break above resistance is a buy signal. In this case, 34.24, 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 GLL slightly near 34.24, target 30.88, Stop Loss @ 34.34. Details
The technical summary data is suggesting a short of GLL if it tests 34.24 with a downside target of 30.88. We should have a stop loss in place at 34.34 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, 34.24, 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 GLL
- Buy GLL slightly over 33.57, target 34.24, Stop Loss @ 33.49 Details
If 33.57 begins to break higher, the technical summary data tells us to buy GLL just slightly over 33.57, with an upside target of 34.24. The data also tells us to set a stop loss @ 33.49 in case the stock turns against the trade. 33.57 is the first level of resistance above 32.77, and by rule, any break above resistance is a buy signal. In this case, 33.57, 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 GLL slightly near 33.57, target 30.88, Stop Loss @ 33.65. Details
The technical summary data is suggesting a short of GLL if it tests 33.57 with a downside target of 30.88. We should have a stop loss in place at 33.65 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, 33.57, 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.
Real Time Updates are available on our Proshares Ultrashort Gold (GLL) Page here: GLL.
GLL Ratings for November 12:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
30.88 |
| P2 |
33.57 |
34.24 |
34.46 |
| P3 |
35.39 |
36.14 |
38.12 |
Support and Resistance Plot Chart for GLL
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Proshares Ultrashort Gold (NYSE: GLL) 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 GLL 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.
Fundamental Charts for GLL:
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