PROSHARES ULTRA S&P500 (SSO) Stock Technical Analysis
NYSEARCA:SSO - NYSE Arca - US74347R1077 - ETF - Currency: USD
We assign a technical rating of 6 out of 10 to SSO. SSO has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
SSO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
SSO has an average volume of 3688520 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, SSO outperforms 52% of them, which is more or less in line with the market.
SSO is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SSO is lagging the market slightly.
SSO has an average technical rating and also the quality of the setup is only medium 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.
More info and screens
68.18
100.73
When analyzing the support we can see 2 important areas.
- A support zone ranging from 84.04 to 86.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 68.87 to 69.11. This zone is formed by a combination of multiple trend lines in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 90.44 to 91.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 99.73 to 99.73. 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 | NEUTRAL | NEUTRAL | The long term trend for SSO is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SSO is up. |
| ChartMill Relative Strength | 52.82 | NEUTRAL | SSO is not amongst the best or worst performers 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 | MIXED | The current price of SSO is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.99 | NEUTRAL | The RSI value for SSO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.13 | POSITIVE | The MACD value suggests SSO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 62.58 | NEUTRAL | The Stochastics value for SSO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.7 | MEDIUM VOLATILITY | The ATR as a percentage value for SSO suggests some volalility. |
| Average Directional Index/ADX (14) | 18.91 | NEGATIVE | The low ADX value for SSO suggests a weak or negative 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)
86.13
-1.21 (-1.39%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.39%
1 Week-5.15%
2 Weeks4.92%
1 Month9.96%
3 Month-10.21%
6 Month-10.21%
12 Month9.82%
2 Year66.79%
3 Year59.74%
5 Year183.58%
10 Year411.46%
15 Year1801.32%
Volatility
ATR(14)2.21
ATR(20)%2.7%
ATR Inc-14.14%
Range Today1.85
ADR(20)1.99
ADR(20)%2.31%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS52.82
Mansfield-0.33
10 Day High91.21
10 Day Low85.06
20 Day High91.21
20 Day Low75.7
52 Week High100.3
52 Week Low60.84
CS1 End86.12
CR1 Start90.44
Volume & EV
DER(3)-0.83%
DER(5)1.81%
Volume3.02M
Volume Incr5.02%
Vol(5)2.71M
Vol(50)3.69M