May 08, 2024 (Stock Traders Daily via COMTEX) --
Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in United States Oil Fund (NYSE: USO) with integrated risk controls.
Warning:
The trading plans were valid at the time this was published, but the support and resistance levels for USO change as time passes, and this should be updated in real time. Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports
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Instructions:
Use the basic rules of Technical Analysis. Here are some examples: if USO is testing support the signal is to buy and target resistance. On the other hand, if resistance is tested, that is a sign to short, and target support. No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.
Swing Trades, Day Trades, and Longer term Trading Plans:
This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for USO too. All of these are offered here: Access our Real Time Trading Plans
Longer Term Trading Plans for USO
- Buy USO slightly over 70.25 target 76.95 stop loss @ 70.05
- Short USO slightly under 76.95, target 70.25, stop loss @ 77.17
Swing Trading Plans for USO
- Buy USO slightly over 76.95, target 83.56, Stop Loss @ 76.73
- Short USO slightly near 76.95, target 75.7, Stop Loss @ 77.17.
Day Trading Plans for USO
- Buy USO slightly over 76.95, target 83.56, Stop Loss @ 76.77
- Short USO slightly near 76.95, target 75.93, Stop Loss @ 77.13.
USO Technical Summary | Raw Data for the Trading Plans
| Term → | Near |
Mid |
Long |
|---|
| Bias |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
70.25 |
| P2 |
75.18 |
73.51 |
76.95 |
| P3 |
75.93 |
75.7 |
83.56 |
%2520Technical%2520Pivots%2520with%2520Risk%2520Controls)
COMTEX_452089923/2570/2024-05-08T20:08:28
