How the price action of Proshares Ultrapro Short Dow30 (SDOW) is used to our Advantage

October 28, 2022, 00:15 am ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Proshares Ultrapro Short Dow30 (NASDAQ: SDOW) data table below can help you with price action, and we have more details too. Trading plans for SDOW are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for SDOW

• Buy SDOW slightly over 29.96 target 34.69 stop loss @ 29.87 Details

The technical summary data tells us to buy SDOW near 29.96 with an upside target of 34.69. This data also tells us to set a stop loss @ 29.87 to protect against excessive loss in case the stock begins to move against the trade. 29.96 is the first level of support below 30.66 , and by rule, any test of support is a buy signal. In this case, support 29.96 would be being tested, so a buy signal would exist.

• Short SDOW slightly under 34.69, target 29.96, stop loss @ 34.79 Details

The technical summary data is suggesting a short of SDOW as it gets near 34.69 with a downside target of 29.96. We should have a stop loss in place at 34.79though. 34.69 is the first level of resistance above 30.66, and by rule, any test of resistance is a short signal. In this case, if resistance 34.69 is being tested, so a short signal would exist.

Swing Trading Plans for SDOW

• Buy SDOW slightly over 31.52, target 34.69, Stop Loss @ 31.43 Details

If 31.52 begins to break higher, the technical summary data tells us to buy SDOW just slightly over 31.52, with an upside target of 34.69. The data also tells us to set a stop loss @ 31.43 in case the stock turns against the trade. 31.52 is the first level of resistance above 30.66, and by rule, any break above resistance is a buy signal. In this case, 31.52, 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 SDOW slightly near 31.52, target 29.96, Stop Loss @ 31.61. Details

The technical summary data is suggesting a short of SDOW if it tests 31.52 with a downside target of 29.96. We should have a stop loss in place at 31.61 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, 31.52, 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 SDOW

• Buy SDOW slightly over 31.52, target 34.69, Stop Loss @ 31.45 Details

If 31.52 begins to break higher, the technical summary data tells us to buy SDOW just slightly over 31.52, with an upside target of 34.69. The data also tells us to set a stop loss @ 31.45 in case the stock turns against the trade. 31.52 is the first level of resistance above 30.66, and by rule, any break above resistance is a buy signal. In this case, 31.52, 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 SDOW slightly near 31.52, target 30.05, Stop Loss @ 31.59. Details

The technical summary data is suggesting a short of SDOW if it tests 31.52 with a downside target of 30.05. We should have a stop loss in place at 31.59 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, 31.52, 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.

SDOW Ratings for October 28:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	29.96
P2	28.77	29.32	34.69
P3	30.05	31.52	40.31

Support and Resistance Plot Chart for SDOW

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