(FAS) Investment Report

August 09, 2024, 04:50 am ET, BY Billy- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FAS

• Buy FAS slightly over 103.21 target 115.51 stop loss @ 102.91 Details

The technical summary data tells us to buy FAS near 103.21 with an upside target of 115.51. This data also tells us to set a stop loss @ 102.91 to protect against excessive loss in case the stock begins to move against the trade. 103.21 is the first level of support below 106.45 , and by rule, any test of support is a buy signal. In this case, support 103.21 would be being tested, so a buy signal would exist.

• Short FAS slightly under 115.51, target 103.21, stop loss @ 115.84 Details

The technical summary data is suggesting a short of FAS as it gets near 115.51 with a downside target of 103.21. We should have a stop loss in place at 115.84though. 115.51 is the first level of resistance above 106.45, and by rule, any test of resistance is a short signal. In this case, if resistance 115.51 is being tested, so a short signal would exist.

Swing Trading Plans for FAS

• Buy FAS slightly over 108.61, target 115.51, Stop Loss @ 108.3 Details

If 108.61 begins to break higher, the technical summary data tells us to buy FAS just slightly over 108.61, with an upside target of 115.51. The data also tells us to set a stop loss @ 108.3 in case the stock turns against the trade. 108.61 is the first level of resistance above 106.45, and by rule, any break above resistance is a buy signal. In this case, 108.61, 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 108.61, target 103.21, Stop Loss @ 108.92. Details

The technical summary data is suggesting a short of FAS if it tests 108.61 with a downside target of 103.21. We should have a stop loss in place at 108.92 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, 108.61, 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 108.09, target 108.61, Stop Loss @ 107.84 Details

If 108.09 begins to break higher, the technical summary data tells us to buy FAS just slightly over 108.09, with an upside target of 108.61. The data also tells us to set a stop loss @ 107.84 in case the stock turns against the trade. 108.09 is the first level of resistance above 106.45, and by rule, any break above resistance is a buy signal. In this case, 108.09, 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 108.09, target 103.21, Stop Loss @ 108.34. Details

The technical summary data is suggesting a short of FAS if it tests 108.09 with a downside target of 103.21. We should have a stop loss in place at 108.34 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, 108.09, 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 Financial Bull 3x Shares (FAS) available here: FAS.

FAS Ratings for August 09:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	103.21
P2	101.38	96.54	115.51
P3	108.09	108.61	127.76

AI Generated Signals for FAS

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Direxion Daily Financial Bull 3x Shares (NYSE: FAS) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FAS change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FAS is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FAS too.  All of these are offered below the Summary Table.