Proshares Ultra Oil & Gas $DIG Technical Update
December 04, 2018, BY Thomas H. Kee Jr - Editor, Stock Traders Daily |
The Proshares Ultra Oil & Gas (NYSE: DIG) 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 DIG, 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 |
30.34 |
24.69 |
29.34 |
P2 |
31.54 |
30.87 |
38.36 |
P3 |
32.26 |
36.95 |
47.05 |
Long Term Trading Plans for DIG
December 4, 2018, 4:30 pm ET
The Technical Summary and Trading Plans for DIG 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 DIG Report.
DIG - (Long) Support Plan
The technical summary data tells us to buy DIG near 29.34 with an upside target of 38.36. This data also tells us to set a stop loss @ 29.08 to protect against excessive loss in case the stock begins to move against the trade. 29.34 is the first level of support below 31.12 , and by rule, any test of support is a buy signal. In this case, support 29.34 would be being tested, so a buy signal would exist.
DIG - (Short) Resistance Plan
The technical summary data is suggesting a short of DIG as it gets near 38.36 with a downside target of 29.34. We should have a stop loss in place at 38.62 though. 38.36 is the first level of resistance above 31.12, and by rule, any test of resistance is a short signal. In this case, if resistance 38.36 is being tested, so a short signal would exist.
Source: Stock Traders Daily
(December 4, 2018 - 4:30 PM EST)
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