How the price action of Proshares Ultrashort Oil & Gas (DUG) is used to our Advantage

May 16, 2022, 04:30 am ET, BY David D.- 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 Ultrashort Oil & Gas (NYSE: DUG) data table below can help you with price action, and we have more details too. Trading plans for DUG 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 DUG

• Buy DUG slightly over 16.28 target 23.56 stop loss @ 16.23 Details

The technical summary data tells us to buy DUG near 16.28 with an upside target of 23.56. This data also tells us to set a stop loss @ 16.23 to protect against excessive loss in case the stock begins to move against the trade. 16.28 is the first level of support below 19.51 , and by rule, any test of support is a buy signal. In this case, support 16.28 would be being tested, so a buy signal would exist.

• Short DUG under 23.56, target 16.28, stop loss @ 23.63 Details

The technical summary data is suggesting a short of DUG as it gets near 23.56 with a downside target of 16.28. We should have a stop loss in place at 23.63though. 23.56 is the first level of resistance above 19.51, and by rule, any test of resistance is a short signal. In this case, if resistance 23.56 is being tested, so a short signal would exist.

Swing Trading Plans for DUG

• Buy DUG slightly over 21.47, target 23.56, Stop Loss @ 21.41 Details

If 21.47 begins to break higher, the technical summary data tells us to buy DUG just slightly over 21.47, with an upside target of 23.56. The data also tells us to set a stop loss @ 21.41 in case the stock turns against the trade. 21.47 is the first level of resistance above 19.51, and by rule, any break above resistance is a buy signal. In this case, 21.47, 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 DUG near 21.47, target 18.80, Stop Loss @ 21.53. Details

The technical summary data is suggesting a short of DUG if it tests 21.47 with a downside target of 18.80. We should have a stop loss in place at 21.53 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, 21.47, 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 DUG

• Buy DUG slightly over 20.95, target 21.47, Stop Loss @ 20.9 Details

If 20.95 begins to break higher, the technical summary data tells us to buy DUG just slightly over 20.95, with an upside target of 21.47. The data also tells us to set a stop loss @ 20.9 in case the stock turns against the trade. 20.95 is the first level of resistance above 19.51, and by rule, any break above resistance is a buy signal. In this case, 20.95, 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 DUG near 20.95, target 18.87, Stop Loss @ 21. Details

The technical summary data is suggesting a short of DUG if it tests 20.95 with a downside target of 18.87. We should have a stop loss in place at 21 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, 20.95, 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.

DUG Ratings for May 16:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	16.28
P2	18.87	18.80	23.56
P3	20.95	21.47	31.40

Support and Resistance Plot Chart for DUG

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.