How the price action of Proshares Ultra S&p 500 (SSO) is used to our Advantage

The MarketWatch News Department was not involved in the creation of this content.

Aug 11, 2022 (Stock Traders Daily via COMTEX) —
Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in Proshares Ultra S&p 500 (NYSE: SSO) with integrated risk controls.

Warning:

The trading plans were valid at the time this was published, but the support and resistance levels for SSO change as time passes, and this should be updated in real time. Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports

Protection from Market Crashes: Subscribers also get our Tail Risk hedge, Evitar Corte

Instructions:

Use the basic rules of Technical Analysis. Here are some examples: if SSO is testing support the signal is to buy and target resistance. On the other hand, if resistance is tested, that is a sign to short, and target support. No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for SSO too. All of these are offered here: Access our Real Time Trading Plans

Longer Term Trading Plans for SSO

  • Buy SSO over 50.52 target 58.49 stop loss @ 50.37

  • Short SSO under 58.49, target 50.52, stop loss @ 58.66

Swing Trading Plans for SSO

  • Buy SSO over 56.62, target 58.49, Stop Loss @ 56.46

  • Short SSO near 56.62, target 54.24, Stop Loss @ 56.78.

Day Trading Plans for SSO

  • Buy SSO over 55.77, target 56.62, Stop Loss @ 55.64

  • Short SSO near 55.77, target 54.24, Stop Loss @ 55.9.

SSO Technical Summary | Raw Data for the Trading Plans

Bias

Strong

Strong

Weak

P1

0

0

42.71

P2

53.99

54.24

50.52

P3

55.77

56.62

58.49

COMTEX_412113392/2570/2022-08-11T21:57:04

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

The MarketWatch News Department was not involved in the creation of this content.

Leave a Reply

Your email address will not be published. Required fields are marked *