Learn to Evaluate (USO) using the Charts
October 30, 2024, 12:36 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for USO
- Buy USO near 70.56 target 76.37 stop loss @ 70.36 Details
The technical summary data tells us to buy USO near 70.56 with an upside target of 76.37. This data also tells us to set a stop loss @ 70.36 to protect against excessive loss in case the stock begins to move against the trade. 70.56 is the first level of support below 71.035 , and by rule, any test of support is a buy signal. In this case, support 70.56 would be being tested, so a buy signal would exist.
- Short USO slightly under 76.37, target 70.56, stop loss @ 76.59 Details
The technical summary data is suggesting a short of USO as it gets near 76.37 with a downside target of 70.56. We should have a stop loss in place at 76.59though. 76.37 is the first level of resistance above 71.035, and by rule, any test of resistance is a short signal. In this case, if resistance 76.37 is being tested, so a short signal would exist.
Swing Trading Plans for USO
- Buy USO slightly over 72.94, target 76.37, Stop Loss @ 72.73 Details
If 72.94 begins to break higher, the technical summary data tells us to buy USO just slightly over 72.94, with an upside target of 76.37. The data also tells us to set a stop loss @ 72.73 in case the stock turns against the trade. 72.94 is the first level of resistance above 71.035, and by rule, any break above resistance is a buy signal. In this case, 72.94, 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 USO slightly near 72.94, target 70.56, Stop Loss @ 73.15. Details
The technical summary data is suggesting a short of USO if it tests 72.94 with a downside target of 70.56. We should have a stop loss in place at 73.15 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, 72.94, 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 USO
- Buy USO slightly over 72.94, target 76.37, Stop Loss @ 72.77 Details
If 72.94 begins to break higher, the technical summary data tells us to buy USO just slightly over 72.94, with an upside target of 76.37. The data also tells us to set a stop loss @ 72.77 in case the stock turns against the trade. 72.94 is the first level of resistance above 71.035, and by rule, any break above resistance is a buy signal. In this case, 72.94, 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 USO slightly near 72.94, target 70.81, Stop Loss @ 73.11. Details
The technical summary data is suggesting a short of USO if it tests 72.94 with a downside target of 70.81. We should have a stop loss in place at 73.11 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, 72.94, 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 United States Oil Fund (USO) available here: USO.
USO Ratings for October 30:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
70.56 |
| P2 |
68.47 |
69.66 |
76.37 |
| P3 |
70.81 |
72.94 |
81.84 |
AI Generated Signals for USO
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The United States Oil Fund (NYSE: USO) report below can help you understand how to do this. The trading plans for USO, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for USO:
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