PROSHARES ULTRA GOLD (UGL) Stock Technical Analysis
NYSEARCA:UGL - NYSE Arca - US74347W6012 - ETF - Currency: USD
Overall UGL gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, UGL is showing a nice and steady performance.
UGL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 37.48. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 35.84, a Stop Loss order could be placed below this zone.
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27.48
4 important support areas can be observed.
- A support zone ranging from 34.98 to 35.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @33.36 from a trend line in the daily time frame.
- A support zone ranging from 32.41 to 32.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.76 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 37.48 to 37.95. 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 UGL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for UGL is up. |
| ChartMill Relative Strength | 94.82 | POSITIVE | UGL has a high relative strength, it outperformed 94.82% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of UGL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of UGL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of UGL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.7 | NEUTRAL | The RSI value for UGL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests UGL has a negative trend. |
| Stochastics (14,3) | 50.05 | NEUTRAL | The Stochastics value for UGL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.65 | MEDIUM VOLATILITY | The ATR as a percentage value for UGL suggests some volalility. |
| Average Directional Index/ADX (14) | 12.55 | NEGATIVE | The low ADX value for UGL 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 |
|---|---|---|---|
| 35.99 | 34.97 | 1.02 (2.84%) | 25.00% |
| An entry @35.99. This is a Buy Stop order right above the 10 day moving average. | An exit @34.97. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.02 points, which is 2.84%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.71%. |
- The distance between exit and entry is rather small compared to the average daily movement of UGL. Please evaluate whether better entry and exit points can be found.
- 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.
35.95
-0.07 (-0.19%)