REW - How to Evaluate Proshares Ultrashort Technolog by Looking at the Charts

When influential investors make decisions to buy and sell securities, they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The Proshares Ultrashort Technolog (NYSE: REW) report below can help you understand how to do this. The trading plans for REW, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

Long Term Trading Plans for REW

April 17, 2021, 2:00 am ET

The Technical Summary and Trading Plans for REW 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 REW Report.

REW - (Long) Support Plan

The technical summary data tells us to buy REW near 8.31 with an upside target of 12.13. This data also tells us to set a stop loss @ 8.29 to protect against excessive loss in case the stock begins to move against the trade. 8.31 is the first level of support below 10.8196 , and by rule, any test of support is a buy signal. In this case, support 8.31 is being tested, a buy signal would exist.

REW - (Short) Resistance Plan

The technical summary data is suggesting a short of REW as it gets near 12.13 with a downside target of 8.31. We should have a stop loss in place at 12.17though. 12.13 is the first level of resistance above 10.8196, and by rule, any test of resistance is a short signal. In this case, if resistance 12.13 is being tested, a short signal would exist.