UYM - How to Develop Trading Plans for Proshares Ultra Basic Material and other Stocks
According to Stock Traders Daily, a 2-year industry veteran, investors can use the price action in Proshares Ultra Basic Material (NYSE: UYM) to foretell upcoming changes. A current example is provided below. There are trading plans for UYM, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Strong | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 68.33 | |||
| P2 | |||
| 69.48 | |||
| 72.54 | |||
| 76.09 | |||
| P3 | |||
| 76.30 | |||
| 78.18 | |||
| 84.16 |
Long Term Trading Plans for UYM
February 21, 2021, 11:30 pm ET
The Technical Summary and Trading Plans for UYM 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 UYM Report.
UYM - (Long) Support Plan
The technical summary data tells us to buy UYM near 76.09 with an upside target of 84.16. This data also tells us to set a stop loss @ 75.87 to protect against excessive loss in case the stock begins to move against the trade. 76.09 is the first level of support below 78.1472 , and by rule, any test of support is a buy signal. In this case, support 76.09 is being tested, a buy signal would exist.
UYM - (Short) Resistance Plan
The technical summary data is suggesting a short of UYM as it gets near 84.16 with a downside target of 76.09. We should have a stop loss in place at 84.4though. 84.16 is the first level of resistance above 78.1472, and by rule, any test of resistance is a short signal. In this case, if resistance 84.16 is being tested, a short signal would exist.