Where are the Opportunities in (UFO)

December 28, 2023, 15:00 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for UFO

• Buy UFO slightly over 17.82 target n/a stop loss @ 17.77. Details

The technical summary data tells us to buy UFO near 17.82, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 17.77 to protect against excessive loss in case the stock begins to move against the trade. 17.82 is the first level of support below 18.69, and by rule, any test of support is a buy signal. In this case, if support 17.82 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for UFO

• Buy UFO slightly over 18.78, target n/a, Stop Loss @ 18.73 Details

If 18.78 begins to break higher, the technical summary data tells us to buy UFO just slightly over 18.78, with an upside target of n/a. The data also tells us to set a stop loss @ 18.73 in case the stock turns against the trade. 18.78 is the first level of resistance above 18.69, and by rule, any break above resistance is a buy signal. In this case, 18.78, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short UFO slightly near 18.78, target 18.3, Stop Loss @ 18.83. Details

The technical summary data is suggesting a short of UFO if it tests 18.78 with a downside target of 18.3. We should have a stop loss in place at 18.83 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 18.78, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for UFO

• Buy UFO slightly over 18.87, target n/a, Stop Loss @ 18.83 Details

If 18.87 begins to break higher, the technical summary data tells us to buy UFO just slightly over 18.87, with an upside target of n/a. The data also tells us to set a stop loss @ 18.83 in case the stock turns against the trade. 18.87 is the first level of resistance above 18.69, and by rule, any break above resistance is a buy signal. In this case, 18.87, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short UFO slightly near 18.87, target 18.3, Stop Loss @ 18.91. Details

The technical summary data is suggesting a short of UFO if it tests 18.87 with a downside target of 18.3. We should have a stop loss in place at 18.91 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 18.87, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

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UFO Ratings for December 28:

Support and Resistance Plot Chart for UFO

Blue = Current Price
Red= Resistance
Green = Support

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Procure Space Etf (NYSE: UFO) while incorporating prudent risk controls.

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