How the (UPRO) price action is used to our Advantage (2024)

July 29, 2024, 11:24 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for UPRO

• Buy UPRO slightly over 70.32 target 77.4 stop loss @ 70.12 Details

The technical summary data tells us to buy UPRO near 70.32 with an upside target of 77.4. This data also tells us to set a stop loss @ 70.12 to protect against excessive loss in case the stock begins to move against the trade. 70.32 is the first level of support below 75.534 , and by rule, any test of support is a buy signal. In this case, support 70.32 would be being tested, so a buy signal would exist.

• Short UPRO slightly under 77.4, target 70.32, stop loss @ 77.62 Details

The technical summary data is suggesting a short of UPRO as it gets near 77.4 with a downside target of 70.32. We should have a stop loss in place at 77.62though. 77.4 is the first level of resistance above 75.534, and by rule, any test of resistance is a short signal. In this case, if resistance 77.4 is being tested, so a short signal would exist.

Swing Trading Plans for UPRO

• Buy UPRO slightly over 77.44, target 84.36, Stop Loss @ 77.22 Details

If 77.44 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 77.44, with an upside target of 84.36. The data also tells us to set a stop loss @ 77.22 in case the stock turns against the trade. 77.44 is the first level of resistance above 75.534, and by rule, any break above resistance is a buy signal. In this case, 77.44, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short UPRO slightly near 77.44, target 73.5, Stop Loss @ 77.66. Details

The technical summary data is suggesting a short of UPRO if it tests 77.44 with a downside target of 73.5. We should have a stop loss in place at 77.66 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 77.44, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for UPRO

• Buy UPRO slightly over 75.8, target 77.44, Stop Loss @ 75.62 Details

If 75.8 begins to break higher, the technical summary data tells us to buy UPRO just slightly over 75.8, with an upside target of 77.44. The data also tells us to set a stop loss @ 75.62 in case the stock turns against the trade. 75.8 is the first level of resistance above 75.534, and by rule, any break above resistance is a buy signal. In this case, 75.8, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short UPRO slightly near 75.8, target 73.5, Stop Loss @ 75.98. Details

The technical summary data is suggesting a short of UPRO if it tests 75.8 with a downside target of 73.5. We should have a stop loss in place at 75.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 75.8, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Proshares Ultrapro S&p 500 Etf 3x Shares (UPRO) available here: UPRO.

UPRO Ratings for July 29:

AI Generated Signals for UPRO

Blue = Current Price
Red= Resistance
Green = Support

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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Proshares Ultrapro S&p 500 Etf 3x Shares(NASDAQ: UPRO) data table below can help you with price action, and we have more details too. Trading plans for UPRO are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.