Influential Investors can create defining moments in a stock's price, by simply making large buy and sell decisions, and Proshares Ultrashort Ftse Chin (NYSE: FXP) 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 FXP 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 | Strong | Weak | Weak |
P1 | 0 | 0 | 21.48 |
P2 | 23.97 | 23.20 | 24.78 |
P3 | 26.39 | 25.52 | 29.52 |
Long Term Trading Plans for FXP
February 26, 2021, 2:30 pm ET
The Technical Summary and Trading Plans for FXP 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 FXP Report.
FXP - (Long) Support Plan
The technical summary data tells us to buy FXP near 24.78 with an upside target of 29.52. This data also tells us to set a stop loss @ 24.71 to protect against excessive loss in case the stock begins to move against the trade. 24.78 is the first level of support below 28.01 , and by rule, any test of support is a buy signal. In this case, support 24.78 is being tested, a buy signal would exist.
FXP - (Short) Resistance Plan
The technical summary data is suggesting a short of FXP as it gets near 29.52 with a downside target of 24.78. We should have a stop loss in place at 29.61though. 29.52 is the first level of resistance above 28.01, and by rule, any test of resistance is a short signal. In this case, if resistance 29.52 is being tested, a short signal would exist.