DUG - When Investors Make Decisions in Proshares Ultrashort Oil & Gas Opportunities Surface
Influential Investors can create defining moments in a stock's price, by simply making large buy and sell decisions, and Proshares Ultrashort Oil & Gas (NYSE: DUG) is no exception. Pivot points in a chart pattern are often created by these events, and as we have learned this does not require institutional investment decisions. For DUG like every other stock, smaller investors can be heard as well, but one thing is the same. No matter what class of influential investor is speaking, we can hear what they are saying with their pocketbooks by looking at price action; that is exactly what we have done below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Weak | |||
| Weak | |||
| Weak | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 6.61 | |||
| P2 | |||
| 13.32 | |||
| 12.39 | |||
| 15.91 | |||
| P3 | |||
| 13.87 | |||
| 13.38 | |||
| 34.26 |
Long Term Trading Plans for DUG
March 16, 2021, 12:00 pm ET
The Technical Summary and Trading Plans for DUG 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 DUG Report.
DUG - (Long) Support Plan
The technical summary data tells us to buy DUG near 6.61 with an upside target of 15.91. This data also tells us to set a stop loss @ 6.59 to protect against excessive loss in case the stock begins to move against the trade. 6.61 is the first level of support below 14.48 , and by rule, any test of support is a buy signal. In this case, support 6.61 would be being tested, so a buy signal would exist.
DUG - (Short) Resistance Plan
The technical summary data is suggesting a short of DUG as it gets near 15.91 with a downside target of 6.61. We should have a stop loss in place at 15.96though. 15.91 is the first level of resistance above 14.48, and by rule, any test of resistance is a short signal. In this case, if resistance 15.91 is being tested, so a short signal would exist.