SKF - Political Decisions Influence Proshares Ultrashort Financial #SKF and Investors Should Listen
No matter what industry we are talking about, #politics and policy changes can affect the #price of a #stock in that industry, and Proshares Ultrashort Financial (NYSE: SKF) is not an exception. SKF like every other company, it will experience ebbs and flows based on this type of news too, so it is important for us to pay attention. The good news is, Wall Street usually prices in events like this before they happen. The Stock Market is an exceptional forecasting tool, so if we pay attention to price we can often determine what will happen before it happens. That is exactly what we attempt to do using the price data below. This data changes over time, so we suggest updating the data for the most actionable results. For an update, please request Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Weak | |||
| Weak | |||
| Weak | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 9.06 | |||
| P2 | |||
| 10.13 | |||
| 10.09 | |||
| 10.41 | |||
| P3 | |||
| 10.41 | |||
| 10.33 | |||
| 11.84 |
Long Term Trading Plans for SKF
May 8, 2021, 7:30 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 9.06 with an upside target of 10.41. This data also tells us to set a stop loss @ 9.03 to protect against excessive loss in case the stock begins to move against the trade. 9.06 is the first level of support below 10.06 , and by rule, any test of support is a buy signal. In this case, support 9.06 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 10.41 with a downside target of 9.06. We should have a stop loss in place at 10.44though. 10.41 is the first level of resistance above 10.06, and by rule, any test of resistance is a short signal. In this case, if resistance 10.41 is being tested, so a short signal would exist.