United States Oil USO Trading Advice – Stock Traders Daily

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Source: Stock Traders Daily

Longer Term Trading Plans for USO
  • Buy USO over 52.44 target 55.88 stop loss @ 52.29 Details
  • The technical summary data tells us to buy USO near 52.44 with an upside target of 55.88. This data also tells us to set a stop loss @ 52.29 to protect against excessive loss in case the stock begins to move against the trade. 52.44 is the first level of support below 55.34 , and by rule, any test of support is a buy signal. In this case, support 52.44 is being tested, a buy signal would exist.

  • Short USO under 55.88, target 52.44, stop loss @ 56.04 Details
  • The technical summary data is suggesting a short of USO as it gets near 55.88 with a downside target of 52.44. We should have a stop loss in place at 56.04though. 55.88 is the first level of resistance above 55.34, and by rule, any test of resistance is a short signal. In this case, if resistance 55.88 is being tested, a short signal would exist.

Swing Trading Plans for USO
  • Buy USO over 55.88, target 56.23, Stop Loss @ 55.72 Details
  • If 55.88 begins to break higher, the technical summary data tells us to buy USO just over 55.88, with an upside target of 56.23. The data also tells us to set a stop loss @ 55.72 in case the stock turns against the trade. 55.88 is the first level of resistance above 55.34, and by rule, any break above resistance is a buy signal. In this case, 55.88, 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 USO near 55.88, target 52.44, Stop Loss @ 56.04. Details
  • The technical summary data is suggesting a short of USO if it tests 55.88 with a downside target of 52.44. We should have a stop loss in place at 56.04 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, 55.88, 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 USO
  • Buy USO over 55.99, target 56.23, Stop Loss @ 55.86 Details
  • If 55.99 begins to break higher, the technical summary data tells us to buy USO just over 55.99, with an upside target of 56.23. The data also tells us to set a stop loss @ 55.86 in case the stock turns against the trade. 55.99 is the first level of resistance above 55.34, and by rule, any break above resistance is a buy signal. In this case, 55.99, 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 USO near 55.99, target 52.44, Stop Loss @ 56.12. Details
  • The technical summary data is suggesting a short of USO if it tests 55.99 with a downside target of 52.44. We should have a stop loss in place at 56.12 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, 55.99, 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.

USO Technical Summary | Raw Data for the Trading Plans

Term → Near Mid Long
Bias Strong Strong Strong
P1 0 0 49.05
P2 55.99 56.23 52.44
P3 57.25 57.63 55.88

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in United States Oil (NYSE: USO) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for USO change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if USO is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

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

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for USO too.  All of these are offered below the Summary Table.

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Fundamental Charts for USO

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