Proshares Short High Yield is slightly down on the day, it isn't making a very large move but still down -0.12%. We'll see if it can keep moving down or not. It looks like SJB may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. In addition to being near an angled support line SJB is near a moderate strength horizontal support line. This represents a potential pivot point where the price might find support and move upward. But it can also break through
this line in which case there might be a burst of selling on the other side. SJB hasn't had very clear momentum over the last 3 months in either direction. Which makes it a little harder to predict. But hasn't shown the selling pressure to make
me feel certain it will break through the line.
If we get a reversal off of support and Proshares Short High Yield starts moving up, it can probably get to $16.91 at which point it'll need to break through that resistance level in order to keep moving higher. There aren't very obvious support levels beneath this point. So put those stop losses on, this thing has room to fall if buyers don't come in at this level.
How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.
