May 08, 2024 (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 Ultrashort Bloomberg Crude Oil -2x Shares (NYSE: SCO) with integrated risk controls.
Warning:
The trading plans were valid at the time this was published, but the support and resistance levels for SCO 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
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Instructions:
Use the basic rules of Technical Analysis. Here are some examples: if SCO 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 SCO too. All of these are offered here: Access our Real Time Trading Plans
Longer Term Trading Plans for SCO
- Buy SCO slightly over 15.58 target 18.58 stop loss @ 15.54
- Short SCO slightly under 18.58, target 15.58, stop loss @ 18.63
Swing Trading Plans for SCO
- Buy SCO slightly over 17.34, target 18.58, Stop Loss @ 17.29
- Short SCO slightly near 17.34, target 16.49, Stop Loss @ 17.39.
Day Trading Plans for SCO
- Buy SCO slightly over 16.68, target 17.01, Stop Loss @ 16.64
- Short SCO slightly near 16.68, target 15.58, Stop Loss @ 16.72.
SCO Technical Summary | Raw Data for the Trading Plans
| Term → | Near |
Mid |
Long |
|---|
| Bias |
Strong |
Strong |
Weak |
| P1 |
0 |
0 |
12.96 |
| P2 |
16.68 |
16.49 |
15.58 |
| P3 |
17.01 |
17.34 |
18.58 |
%2520Technical%2520Data)
COMTEX_452081360/2570/2024-05-08T16:30:53
