SKF - Managing Risk in Proshares Ultrashort Financial by Using Price Action
This price action in Proshares Ultrashort Financial (NYSE: SKF) can help investors find opportunity, and manage risk. Stock Traders Daily has demonstrated that in this article. Review The plans for SKF below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | |||
Weak | |||
Neutral | |||
Weak | |||
P1 | |||
0 | |||
0 | |||
9.90 | |||
P2 | |||
11.17 | |||
11.11 | |||
11.30 | |||
P3 | |||
11.42 | |||
11.32 | |||
13.11 |
Long Term Trading Plans for SKF
April 17, 2021, 3:45 pm ET
The Technical Summary and Trading Plans for SKF 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 SKF Report.
SKF - (Long) Support Plan
The technical summary data tells us to buy SKF near 9.90 with an upside target of 11.30. This data also tells us to set a stop loss @ 9.87 to protect against excessive loss in case the stock begins to move against the trade. 9.90 is the first level of support below 11.13 , and by rule, any test of support is a buy signal. In this case, support 9.90 would be being tested, so a buy signal would exist.
SKF - (Short) Resistance Plan
The technical summary data is suggesting a short of SKF as it gets near 11.30 with a downside target of 9.90. We should have a stop loss in place at 11.33though. 11.30 is the first level of resistance above 11.13, and by rule, any test of resistance is a short signal. In this case, if resistance 11.30 is being tested, so a short signal would exist.