How the price action of Proshares Ultrashort Gold (GLL) is used to our Advantage
December 02, 2022, 05:30 am ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for GLL
- Buy GLL slightly over 30.87 target 34.49 stop loss @ 30.78 Details
The technical summary data tells us to buy GLL near 30.87 with an upside target of 34.49. This data also tells us to set a stop loss @ 30.78 to protect against excessive loss in case the stock begins to move against the trade. 30.87 is the first level of support below 31.53 , and by rule, any test of support is a buy signal. In this case, support 30.87 would be being tested, so a buy signal would exist.
- Short GLL slightly under 34.49, target 30.87, stop loss @ 34.59 Details
The technical summary data is suggesting a short of GLL as it gets near 34.49 with a downside target of 30.87. We should have a stop loss in place at 34.59though. 34.49 is the first level of resistance above 31.53, and by rule, any test of resistance is a short signal. In this case, if resistance 34.49 is being tested, so a short signal would exist.
Swing Trading Plans for GLL
- Buy GLL slightly over 32.66, target 34.06, Stop Loss @ 32.57 Details
If 32.66 begins to break higher, the technical summary data tells us to buy GLL just slightly over 32.66, with an upside target of 34.06. The data also tells us to set a stop loss @ 32.57 in case the stock turns against the trade. 32.66 is the first level of resistance above 31.53, and by rule, any break above resistance is a buy signal. In this case, 32.66, 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 GLL slightly near 32.66, target 30.87, Stop Loss @ 32.75. Details
The technical summary data is suggesting a short of GLL if it tests 32.66 with a downside target of 30.87. We should have a stop loss in place at 32.75 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, 32.66, 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 GLL
- Buy GLL slightly over 32.24, target 32.66, Stop Loss @ 32.16 Details
If 32.24 begins to break higher, the technical summary data tells us to buy GLL just slightly over 32.24, with an upside target of 32.66. The data also tells us to set a stop loss @ 32.16 in case the stock turns against the trade. 32.24 is the first level of resistance above 31.53, and by rule, any break above resistance is a buy signal. In this case, 32.24, 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 GLL slightly near 32.24, target 30.87, Stop Loss @ 32.32. Details
The technical summary data is suggesting a short of GLL if it tests 32.24 with a downside target of 30.87. We should have a stop loss in place at 32.32 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, 32.24, 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 Ultrashort Gold (GLL) available here: GLL.
GLL Ratings for December 02:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
30.87 |
| P2 |
32.24 |
32.66 |
34.49 |
| P3 |
33.35 |
34.06 |
38.18 |
AI Generated Signals for GLL
Blue = Current Price
Red= Resistance
Green = Support
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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 Ultrashort Gold (NYSE: GLL) data table below can help you with price action, and we have more details too. Trading plans for GLL 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.
Fundamental Charts for GLL:
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