Proshares Ultrashort Ftse Chin FXP Proactive Strategies

August 17, 2022, 13:15 pm ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Don't over think it!  Trading Proshares Ultrashort Ftse Chin (NYSE: FXP) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FXP change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FXP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FXP too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for FXP

• Buy FXP slightly over 39.91 target 48.11 stop loss @ 39.79 Details

The technical summary data tells us to buy FXP near 39.91 with an upside target of 48.11. This data also tells us to set a stop loss @ 39.79 to protect against excessive loss in case the stock begins to move against the trade. 39.91 is the first level of support below 40.23 , and by rule, any test of support is a buy signal. In this case, support 39.91 is being tested, a buy signal would exist.

• Short FXP under 48.11, target 39.91, stop loss @ 48.25 Details

The technical summary data is suggesting a short of FXP as it gets near 48.11 with a downside target of 39.91. We should have a stop loss in place at 48.25though. 48.11 is the first level of resistance above 40.23, and by rule, any test of resistance is a short signal. In this case, if resistance 48.11 is being tested, a short signal would exist.

Swing Trading Plans for FXP

• Buy FXP slightly over 42.27, target 48.11, Stop Loss @ 42.15 Details

If 42.27 begins to break higher, the technical summary data tells us to buy FXP just slightly over 42.27, with an upside target of 48.11. The data also tells us to set a stop loss @ 42.15 in case the stock turns against the trade. 42.27 is the first level of resistance above 40.23, and by rule, any break above resistance is a buy signal. In this case, 42.27, 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 FXP near 42.27, target 39.91, Stop Loss @ 42.39. Details

The technical summary data is suggesting a short of FXP if it tests 42.27 with a downside target of 39.91. We should have a stop loss in place at 42.39 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, 42.27, 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 FXP

• Buy FXP slightly over 42.27, target 48.11, Stop Loss @ 42.17 Details

If 42.27 begins to break higher, the technical summary data tells us to buy FXP just slightly over 42.27, with an upside target of 48.11. The data also tells us to set a stop loss @ 42.17 in case the stock turns against the trade. 42.27 is the first level of resistance above 40.23, and by rule, any break above resistance is a buy signal. In this case, 42.27, 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 FXP near 42.27, target 39.91, Stop Loss @ 42.37. Details

The technical summary data is suggesting a short of FXP if it tests 42.27 with a downside target of 39.91. We should have a stop loss in place at 42.37 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, 42.27, 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.

FXP Ratings for August 17:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	34.13
P2	39.65	39.88	39.91
P3	42.25	42.27	48.11

Support and Resistance Plot Chart for FXP

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