UYM - How to Improve The Timing of Investment Decisions in Proshares Ultra Basic Material
Some people say that timing does not matter, but it does. If you were to buy Proshares Ultra Basic Material (NYSE: UYM) at a high, see it fall, and not be able to buy more on the dip like the big boys can, that would be troubling. Over time, Stock Traders Daily has found a way to lessen the odds of this happening. Below, we provide data for UYM that can be used to help achieve this goal. The data can be used to improve the timing of buy and sell decisions. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Strong | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 80.33 | |||
| P2 | |||
| 89.25 | |||
| 90.59 | |||
| 86.25 | |||
| P3 | |||
| 93.91 | |||
| 94.73 | |||
| 92.27 |
Long Term Trading Plans for UYM
April 18, 2021, 5:45 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 92.27, 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 92 to protect against excessive loss in case the stock begins to move against the trade. 92.27 is the first level of support below 95.9352, and by rule, any test of support is a buy signal. In this case, if support 92.27 is being tested, a buy signal would exist.
UYM - (Short) Resistance Plan
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.