When the Price of Proshares Ultra Russell 2000 2x Shares $UWM Talks, People Listen

November 18, 2023, 09:45 am ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for UWM

• Buy UWM slightly over 26.74 target 30.73 stop loss @ 26.66 Details

The technical summary data tells us to buy UWM near 26.74 with an upside target of 30.73. This data also tells us to set a stop loss @ 26.66 to protect against excessive loss in case the stock begins to move against the trade. 26.74 is the first level of support below 30.28 , and by rule, any test of support is a buy signal. In this case, support 26.74 would be being tested, so a buy signal would exist.

• Short UWM slightly under 30.73, target 26.74, stop loss @ 30.82 Details

The technical summary data is suggesting a short of UWM as it gets near 30.73 with a downside target of 26.74. We should have a stop loss in place at 30.82though. 30.73 is the first level of resistance above 30.28, and by rule, any test of resistance is a short signal. In this case, if resistance 30.73 is being tested, so a short signal would exist.

Swing Trading Plans for UWM

• Buy UWM slightly over 30.73, target 30.94, Stop Loss @ 30.64 Details

If 30.73 begins to break higher, the technical summary data tells us to buy UWM just slightly over 30.73, with an upside target of 30.94. The data also tells us to set a stop loss @ 30.64 in case the stock turns against the trade. 30.73 is the first level of resistance above 30.28, and by rule, any break above resistance is a buy signal. In this case, 30.73, 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 UWM slightly near 30.73, target 28.61, Stop Loss @ 30.82. Details

The technical summary data is suggesting a short of UWM if it tests 30.73 with a downside target of 28.61. We should have a stop loss in place at 30.82 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, 30.73, 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 UWM

• Buy UWM slightly over 30.73, target 30.94, Stop Loss @ 30.66 Details

If 30.73 begins to break higher, the technical summary data tells us to buy UWM just slightly over 30.73, with an upside target of 30.94. The data also tells us to set a stop loss @ 30.66 in case the stock turns against the trade. 30.73 is the first level of resistance above 30.28, and by rule, any break above resistance is a buy signal. In this case, 30.73, 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 UWM slightly near 30.73, target 29.86, Stop Loss @ 30.8. Details

The technical summary data is suggesting a short of UWM if it tests 30.73 with a downside target of 29.86. We should have a stop loss in place at 30.8 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, 30.73, 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 Russell 2000 2x Shares (UWM) available here: UWM.

UWM Ratings for November 18:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	26.74
P2	29.86	28.61	30.73
P3	31.84	30.94	34.68

AI Generated Signals for UWM

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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 Ultra Russell 2000 2x Shares (NYSE: UWM) 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 UWM 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.