REW - Why the Technicals for Proshares Ultrashort Technolog can be More Revealing than the Fundamentals
Technical analysis provides insights that fundamental observations cannot. We can use that to our advantage in Proshares Ultrashort Technolog (NYSE: REW). Using the data offered below we have a real-time example. Review The technical data for REW below, and the added value of technical analysis will become clearer. Trading plans are derived naturally from the technicals. This data is current, but it is not real time. If you want a real time update, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | |||
Neutral | |||
Strong | |||
Weak | |||
P1 | |||
0 | |||
0 | |||
1.89 | |||
P2 | |||
13.69 | |||
13.63 | |||
5.99 | |||
P3 | |||
14.59 | |||
14.60 | |||
12.85 |
Long Term Trading Plans for REW
March 10, 2021, 11:45 pm 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 12.85, 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 12.81 to protect against excessive loss in case the stock begins to move against the trade. 12.85 is the first level of support below 13.78, and by rule, any test of support is a buy signal. In this case, if support 12.85 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.