PROSHARES SHORT S&P500 (SH) Stock Technical Analysis
USA - NYSEARCA:SH - US74349Y7537 - ETF
We assign a technical rating of 2 out of 10 to SH. In the past year, SH was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
SH has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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35.61
When analyzing the support we notice one important area.
- A support zone ranging from 35.97 to 37.57. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 38.02 to 38.02. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @38.77 from a horizontal line in the daily time frame.
- Resistance @50.36 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for SH is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SH is neutral. |
| ChartMill Relative Strength | 37.14 | NEUTRAL | SH is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SH is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SH is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SH is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 66.97 | NEUTRAL | The RSI value for SH is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests SH has a positive trend. |
| Stochastics (14,3) | 89.01 | OVERBOUGHT | The high Stochastics value suggests SH may be overbought. |
| Average True Range in percent/ATR (20) | 1.28 | LOW VOLATILITY | The low ATR as a percentage value for SH suggests low volalility. |
| Average Directional Index/ADX (14) | 18.07 | NEGATIVE | The low ADX value for SH suggests a weak or negative trend. |
38.01
+0.5 (+1.33%)
PROSHARES SHORT S&P500 / SH FAQ
What is the ChartMill technical rating of PROSHARES SHORT S&P500 (SH) stock?
ChartMill assigns a technical rating of 2 / 10 to SH.
What is the trend direction for SH stock?
The current trend direction for PROSHARES SHORT S&P500 (SH) is Bearish.
Can you provide the RSI signal for PROSHARES SHORT S&P500?
PROSHARES SHORT S&P500 (SH) has an RSI value of 66.9696. This indicates that the stock is currently neutral.
What are the support and resistance levels for PROSHARES SHORT S&P500 (SH) stock?
PROSHARES SHORT S&P500 (SH) has a support level at 37.57 and a resistance level at 38.02. Check the full technical report for our detailed analysis of SH support and resistance levels.