Taking everything into account, SSO scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SSO is showing a nice and steady performance.
SSO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 59.33. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 58.23, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
34.20
When analyzing the support we can see 5 important areas.
- A support zone ranging from 56.52 to 58.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 54.25 to 54.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @53.20 from a horizontal line in the daily time frame.
- Support @51.84 from a horizontal line in the daily time frame.
- Support @34.55 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 59.33 to 59.43. This zone is formed by a combination of multiple trend lines 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 | UP | POSITIVE | The short term trend for SSO is up. |
| ChartMill Relative Strength | 80.13 | POSITIVE | SSO has a high relative strength, it outperformed 80.13% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SSO is above the rising 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) | 56.96 | NEUTRAL | The RSI value for SSO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests SSO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 90.76 | OVERBOUGHT | The high Stochastics value suggests SSO may be overbought. |
| Average True Range in percent/ATR (20) | 1.6 | LOW VOLATILITY | The low ATR as a percentage value for SSO suggests low volalility. |
| Average Directional Index/ADX (14) | 13.31 | NEGATIVE | The low ADX value for SSO suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 59.44 | 56.03 | 3.41 (5.74%) | 17.43% |
| An entry @59.44. This is a Buy Stop order right above the resistance zone. | An exit @56.03. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 3.41 points, which is 5.74%. | When investing 17.43% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
58.96
-0.42 (-0.71%)
PROSHARES ULTRA S&P500 / SSO FAQ
What is the technical rating for SSO stock?
ChartMill assigns a technical rating of 8 / 10 to SSO.
What is the trend direction for SSO stock?
The current trend direction for PROSHARES ULTRA S&P500 (SSO) is Bullish.
What is the RSI signal for PROSHARES ULTRA S&P500 (SSO) stock?
PROSHARES ULTRA S&P500 (SSO) has an RSI value of 56.9608. This indicates that the stock is currently neutral.
What is the short term momentum for PROSHARES ULTRA S&P500 (SSO) stock?
The short term momentum for PROSHARES ULTRA S&P500 (SSO) is positive.
What is the support and resistance level for SSO stock?
PROSHARES ULTRA S&P500 (SSO) has a support level at 58.23 and a resistance level at 59.33. Check the full technical report for our detailed analysis of SSO support and resistance levels.