Momentum Indicator for SSO turns positive, indicating new upward trend
SSO saw its Momentum Indicator move above the 0 level on November 02, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 65 similar instances where the indicator turned positive. In of the 65 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SSO just turned positive on November 02, 2023. Looking at past instances where SSO's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
SSO moved above its 50-day moving average on November 10, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SSO crossed bullishly above the 50-day moving average on November 14, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SSO advanced for three days, in of 359 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 425 cases where SSO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for SSO moved out of overbought territory on December 04, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 21 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SSO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Trading
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| JGH | 11.45 | 0.08 | +0.70% |
| NUVEEN GLOBAL HIGH Income FUND | |||
| MUC | 10.77 | 0.03 | +0.28% |
| Blackrock Muniholdings California Quality Fund | |||
| NUHY | 20.62 | 0.02 | +0.08% |
| Nuveen ESG High Yield Corporate Bd ETF | |||
| XC | 27.86 | -0.06 | -0.22% |
| WisdomTree Emerging Markets ex-China ETF | |||
| FXC | 71.95 | -0.28 | -0.39% |
| Invesco CurrencyShares® Canadian Dollar | |||
SSO and
Correlation & Price change
A.I.dvisor indicates that over the last year, SSO has been closely correlated with UPRO. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if SSO jumps, then UPRO could also see price increases.
| Ticker / NAME | Correlation To SSO | 1D Price Change % | ||
|---|---|---|---|---|
| SSO | 100% | -0.03% | ||
| UPRO - SSO | 100% Closely correlated | -0.12% | ||
| SPXL - SSO | 100% Closely correlated | -0.10% | ||
| QULL - SSO | 97% Closely correlated | -0.31% | ||
| SPUU - SSO | 97% Closely correlated | -0.15% | ||
| IWFL - SSO | 95% Closely correlated | +0.67% | ||
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