Direxion Daily Financial Bear $FAZ Technical Update – Stock Traders Daily

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Direxion Daily Financial Bear $FAZ Technical Update

The Direxion Daily Financial Bear (NYSE: FAZ) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for FAZ, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.

Review the Trading Plans:

Technical Summary

Term → Near Mid Long
Bias Strong Weak Neutral
P1 9.35 8.59 8.74
P2 9.27 9.87
P3 0 10.03 11.26

Long Term Trading Plans for FAZ

September 4, 2018, 10:30 pm ET

The Technical Summary and Trading Plans for FAZ 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 FAZ Report.

FAZ – (Long) Support Plan

Buy over 8.74 target 9.87 stop loss @ 8.48.
The technical summary data tells us to buy FAZ near 8.74 with an upside target of 9.87. This data also tells us to set a stop loss @ 8.48 to protect against excessive loss in case the stock begins to move against the trade. 8.74 is the first level of support below 9.14 , and by rule, any test of support is a buy signal. In this case, support 8.74 would be being tested, so a buy signal would exist.

FAZ – (Short) Resistance Plan

Short under 9.87 target 8.74 stop loss @ 10.13.
The technical summary data is suggesting a short of FAZ as it gets near 9.87 with a downside target of 8.74. We should have a stop loss in place at 10.13 though. 9.87 is the first level of resistance above 9.14, and by rule, any test of resistance is a short signal. In this case, if resistance 9.87 is being tested, so a short signal would exist.

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