REW - When the Price of Proshares Ultrashort Technolog #REW Talks People Listen
This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Proshares Ultrashort Technolog (NYSE: REW) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for REW can be used as an example, and demonstrate how to do this for other stocks too. 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 | |||
| Neutral | |||
| Weak | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 6.74 | |||
| P2 | |||
| 10.01 | |||
| 10.82 | |||
| 8.84 | |||
| P3 | |||
| 11.22 | |||
| 11.57 | |||
| 11.23 |
Long Term Trading Plans for REW
May 8, 2021, 6:30 am ET
The Technical Summary and Trading Plans for REW 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 REW Report.
REW - (Long) Support Plan
The technical summary data tells us to buy REW near 11.23, 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 11.2 to protect against excessive loss in case the stock begins to move against the trade. 11.23 is the first level of support below 11.3598, and by rule, any test of support is a buy signal. In this case, if support 11.23 is being tested, a buy signal would exist.
REW - (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.