pool adsWhen Proshares Ultrashort Midcap400 (MZZ) Moves Investors should Listen
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 Proshares Ultrashort Midcap400 (NYSE: MZZ) report below is a real world example. Included are trading plans for MZZ, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Neutral | Weak |
| P1 | ERR | 0 | 9.29 |
| P2 | 9.27 | 12.89 | |
| P3 | 0 | 13.05 | 16.75 |
Support and Resistance Plot Chart for MZZ
Longer Term Trading Plans for MZZ
June 15, 2021, 3:15 am ET
Our Longer Term Plans for MZZ help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this MZZ Report.
Long Support Plan (Long Term Trading)
Buy MZZ over 16.75 target n/a stop loss @ 16.7.
The technical summary data tells us to buy MZZ near 16.75, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 16.7 to protect against excessive loss in case the stock begins to move against the trade. 16.75 is the first level of support below 17.65, and by rule, any test of support is a buy signal. In this case, if support 16.75 is being tested, a buy signal would exist.
Short Resistance Plan (Long Term Trading)
NONE .
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Blue = Current Price
Red= Resistance
Green = Support
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