Proshares Ultrashort Euro $EUO Technical Update
The Proshares Ultrashort Euro (NYSE: EUO) 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 EUO, 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:
Long Term Trading Plans for EUO
September 4, 2018, 6:45 pm ET
The Technical Summary and Trading Plans for EUO 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 EUO Report.
EUO – (Long) Support Plan
Buy over 21.81 target 23.41 stop loss @ 21.55.
The technical summary data tells us to buy EUO near 21.81 with an upside target of 23.41. This data also tells us to set a stop loss @ 21.55 to protect against excessive loss in case the stock begins to move against the trade. 21.81 is the first level of support below 23.34 , and by rule, any test of support is a buy signal. In this case, support 21.81 would be being tested, so a buy signal would exist.
EUO – (Short) Resistance Plan
Short under 23.41 target 21.81 stop loss @ 23.67.
The technical summary data is suggesting a short of EUO as it gets near 23.41 with a downside target of 21.81. We should have a stop loss in place at 23.67 though. 23.41 is the first level of resistance above 23.34, and by rule, any test of resistance is a short signal. In this case, if resistance 23.41 is being tested, so a short signal would exist.
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