Proshares Ultrashort Silver ZSL Investment Analysis

September 15, 2021, 03:15 am ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

With an objective approach to Proshares Ultrashort Silver (NYSE: ZSL), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ZSL 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 ZSL 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 ZSL too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for ZSL

• Buy ZSL slightly over 25.30 target n/a stop loss @ 25.23. Details

The technical summary data tells us to buy ZSL near 25.30, 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 25.23 to protect against excessive loss in case the stock begins to move against the trade. 25.30 is the first level of support below 27.12, and by rule, any test of support is a buy signal. In this case, if support 25.30 is being tested, a buy signal would exist.

• NONE . Details

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.

Swing Trading Plans for ZSL

• Buy ZSL slightly over 27.31, target n/a, Stop Loss @ 27.23 Details

If 27.31 begins to break higher, the technical summary data tells us to buy ZSL just slightly over 27.31, with an upside target of n/a. The data also tells us to set a stop loss @ 27.23 in case the stock turns against the trade. 27.31 is the first level of resistance above 27.12, and by rule, any break above resistance is a buy signal. In this case, 27.31, 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 ZSL near 27.31, target 26.04, Stop Loss @ 27.39. Details

The technical summary data is suggesting a short of ZSL if it tests 27.31 with a downside target of 26.04. We should have a stop loss in place at 27.39 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, 27.31, 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 ZSL

• Buy ZSL slightly over 27.31, target 27.77, Stop Loss @ 27.25 Details

If 27.31 begins to break higher, the technical summary data tells us to buy ZSL just slightly over 27.31, with an upside target of 27.77. The data also tells us to set a stop loss @ 27.25 in case the stock turns against the trade. 27.31 is the first level of resistance above 27.12, and by rule, any break above resistance is a buy signal. In this case, 27.31, 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 ZSL near 27.31, target 26.88, Stop Loss @ 27.37. Details

The technical summary data is suggesting a short of ZSL if it tests 27.31 with a downside target of 26.88. We should have a stop loss in place at 27.37 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, 27.31, 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.

ZSL Ratings for September 15:

Term →	Near	Mid	Long
Rating	Strong	Weak	Weak
P1	0	0	17.99
P2	26.88	26.04	21.45
P3	27.77	27.31	25.30

Support and Resistance Plot Chart for ZSL

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