Wall Street usually prices in events before they happen, and that is as true for Proshares Ultrashort Financial (NYSE: SKF) as it is for any other company. If news is anticipated, and investors want to know what to expect, a simple review of the stock's price action is one of the best ways to do that. The price action of SKF was used to prepare the plans below, it can reflect anticipation, and offer forward looking guidance without the need for analyst's opinions, which are often late and associated with decisions that have already been made anyway. 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 | Neutral | Weak |
| P1 | 0 | 0 | 9.90 |
| P2 | 11.77 | 11.76 | 11.30 |
| P3 | 12.24 | 12.36 | 13.11 |
Long Term Trading Plans for SKF
April 8, 2021, 4:00 am 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 11.30 with an upside target of 13.11. This data also tells us to set a stop loss @ 11.27 to protect against excessive loss in case the stock begins to move against the trade. 11.30 is the first level of support below 11.59 , and by rule, any test of support is a buy signal. In this case, support 11.30 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 13.11 with a downside target of 11.30. We should have a stop loss in place at 13.15though. 13.11 is the first level of resistance above 11.59, and by rule, any test of resistance is a short signal. In this case, if resistance 13.11 is being tested, a short signal would exist.
