Managing Risk in Proshares Ultra S&p500 $SSO by Using Price Action


This price action in Proshares Ultra S&p500 (NYSE: SSO) can help investors find opportunity, and manage risk.  Stock Traders Daily has demonstrated that in this article.  Review The plans for SSO below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports

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Review the SSO Trading Plans:

Technical Summary

Term →Near Mid Long
Bias Strong Strong Strong
P1 0 0 96.84
P2 108.14 105.11 102.37
P3 109.89 108.60 107.41

Long Term Trading Plans for SSO

April 8, 2021, 11:45 am ET

The Technical Summary and Trading Plans for SSO 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 SSO Report.

SSO - (Long) Support Plan

The technical summary data tells us to buy SSO near 107.41, 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 107.1 to protect against excessive loss in case the stock begins to move against the trade. 107.41 is the first level of support below 108.28, and by rule, any test of support is a buy signal. In this case, if support 107.41 is being tested, a buy signal would exist.

SSO - (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.


SSO Long Term Analysis for April 8 2021

Swing Trading Plans for SSO

April 8, 2021, 11:45 am ET

The Technical Summary and Trading Plans for SSO 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 SSO Report.

SSO - (Long) Support Plan

If 108.60 begins to break higher, the technical summary data tells us to buy SSO just over 108.60, with an upside target of n/a. The data also tells us to set a stop loss @ 108.29 in case the stock turns against the trade. 108.60 is the first level of resistance above 108.28, and by rule, any break above resistance is a buy signal. In this case, 108.60, 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.

SSO - (Short) Resistance Plan

The technical summary data is suggesting a short of SSO if it tests 108.60 with a downside target of 107.41. We should have a stop loss in place at 108.91 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, 108.60, 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.


SSO Swing Trading Analysis for April 8 2021

Day Trading Plans for SSO

April 8, 2021, 11:45 am ET

The Technical Summary and Trading Plans for SSO 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 SSO Report.

SSO - (Long) Support Plan

If 108.60 begins to break higher, the technical summary data tells us to buy SSO just over 108.60, with an upside target of 109.89. The data also tells us to set a stop loss @ 108.35 in case the stock turns against the trade. 108.60 is the first level of resistance above 108.28, and by rule, any break above resistance is a buy signal. In this case, 108.60, 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.

SSO - (Short) Resistance Plan

The technical summary data is suggesting a short of SSO if it tests 108.60 with a downside target of 108.14. We should have a stop loss in place at 108.85 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, 108.60, 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.


SSO Day Trading Analysis for April 8 2021


SSO Dividend Chart for April 8 2021

SSO PE chart for April 8 2021

SSO PEG chart for April 8 2021

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