SKF - The Fundamental Case for Proshares Ultrashort Financial Using a Price Based Model
Traditionally Wall Street has used fundamental analysis to make investment decisions in stocks like Proshares Ultrashort Financial (NYSE: SKF) but sometimes the most revealing aspect of the fundamental health of a company can be found through an observation of its price action. Price action was used to produce the raw data below for SKF and it can be used as an example of how to use price action to define fundamental opportunity. 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 | |||
| Weak | |||
| Weak | |||
| Weak | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 9.66 | |||
| P2 | |||
| 12.33 | |||
| 12.23 | |||
| 11.22 | |||
| P3 | |||
| 13.01 | |||
| 12.87 | |||
| 15.01 |
Long Term Trading Plans for SKF
March 11, 2021, 12:45 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 11.22 with an upside target of 15.01. This data also tells us to set a stop loss @ 11.19 to protect against excessive loss in case the stock begins to move against the trade. 11.22 is the first level of support below 11.969 , and by rule, any test of support is a buy signal. In this case, support 11.22 is being tested, a buy signal would exist.
SKF - (Short) Resistance Plan
The technical summary data is suggesting a short of SKF as it gets near 15.01 with a downside target of 11.22. We should have a stop loss in place at 15.05though. 15.01 is the first level of resistance above 11.969, and by rule, any test of resistance is a short signal. In this case, if resistance 15.01 is being tested, a short signal would exist.