PROSHARES ULTRA S&P500 (SSO) Stock Technical Analysis
USA - NYSEARCA:SSO - US74347R1077 - ETF
109.91 USD
-1.49 (-1.34%)
109.28 USD
-0.63 (-0.57%)
Overall SSO gets a technical rating of 6 out of 10. In the last year, SSO was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
SSO is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
SSO has an average volume of 2115930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that SSO is one of the better performing stocks in the market, outperforming 76% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
In the last month SSO has a been trading in the 107.40 - 114.61 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
SSO has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 108.82, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
68.42
115.48
2 important support areas can be observed.
- A support zone ranging from 106.31 to 108.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @69.11 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 111.71 to 114.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | UP | POSITIVE | The long term trend for SSO is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SSO is neutral. |
| ChartMill Relative Strength | 76.59 | POSITIVE | SSO has a high relative strength, it outperformed 76.59% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SSO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SSO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SSO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.52 | NEUTRAL | The RSI value for SSO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.55 | NEGATIVE | The MACD value suggests SSO has a negative trend. |
| Stochastics (14,3) | 44.32 | NEUTRAL | The Stochastics value for SSO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.11 | MEDIUM VOLATILITY | The ATR as a percentage value for SSO suggests some volalility. |
| Average Directional Index/ADX (14) | 25.99 | POSITIVE | The high ADX value value for SSO suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 111.81 | 107.39 | 4.42 (3.95%) | 25.00% |
| An entry @111.81. This is a Buy Stop order right above the 10 day moving average. | An exit @107.39. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.42 points, which is 3.95%. | For a 0.99% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
109.91
-1.49 (-1.34%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.34%
1 Week-3.31%
2 Weeks-2.84%
1 Month-0.68%
3 Month9.41%
6 Month52.97%
12 Month17.98%
2 Year116.74%
3 Year139.09%
5 Year216.2%
10 Year573.26%
15 Year1976.22%
Volatility
ATR(14)2.59
ATR(20)%2.11%
ATR Inc65.13%
Range Today3.86
ADR(20)2.17
ADR(20)%1.98%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS76.59
Mansfield0.59
10 Day High114.61
10 Day Low107.4
20 Day High114.61
20 Day Low107.4
52 Week High114.61
52 Week Low60.84
CS1 End108.82
CR1 Start111.71
Volume & EV
DER(3)-2.49%
DER(5)-3.04%
Volume4.11M
Volume Incr139.16%
Vol(5)4.07M
Vol(50)2.12M