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When Proshares Ultra Financials $UYG Moves Investors should Listen
How do we know what is going on behind the scenes of a company? According to Stock Traders Daily, a 20-year industry innovator, the best way to do this to to watch the price action in the stock. The Proshares Ultra Financials (NYSE: UYG) report below is a real world example. Included are trading plans for UYG, 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 | Strong | Neutral | Strong |
| P1 | 0 | 0 | 45.02 |
| P2 | 54.55 | 54.27 | 48.76 |
| P3 | 55.70 | 55.89 | 53.10 |
⚠Triggers may have already come
Support and Resistance Plot Chart for UYG
Long Term Trading Plans for UYG
April 9, 2021, 4:00 am ET
The Technical Summary and Trading Plans for UYG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this UYG Report.
UYG - (Long) Support Plan
The technical summary data tells us to buy UYG near 53.10, 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 52.95 to protect against excessive loss in case the stock begins to move against the trade. 53.10 is the first level of support below 55.55, and by rule, any test of support is a buy signal. In this case, if support 53.10 is being tested, a buy signal would exist.
UYG - (Short) Resistance Plan
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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