Our Signals help define rules-based Trading Plans predicated on the Basic Rules of Tehnical Analysis. Take a trial, review our Index ETF Signals, macro, more...
December 12, 2024, 00:56 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy LH near 224.6 with an upside target of 241.56. This data also tells us to set a stop loss @ 223.95 to protect against excessive loss in case the stock begins to move against the trade. 224.6 is the first level of support below 229.53 , and by rule, any test of support is a buy signal. In this case, support 224.6 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of LH as it gets near 241.56 with a downside target of 224.6. We should have a stop loss in place at 242.26though. 241.56 is the first level of resistance above 229.53, and by rule, any test of resistance is a short signal. In this case, if resistance 241.56 is being tested, a short signal would exist.
If 230.42 begins to break higher, the technical summary data tells us to buy LH just slightly over 230.42, with an upside target of 235.52. The data also tells us to set a stop loss @ 229.75 in case the stock turns against the trade. 230.42 is the first level of resistance above 229.53, and by rule, any break above resistance is a buy signal. In this case, 230.42, 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.
The technical summary data is suggesting a short of LH if it tests 230.42 with a downside target of 224.6. We should have a stop loss in place at 231.09 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, 230.42, 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.
If 230.5 begins to break higher, the technical summary data tells us to buy LH just slightly over 230.5, with an upside target of 234.22. The data also tells us to set a stop loss @ 229.96 in case the stock turns against the trade. 230.5 is the first level of resistance above 229.53, and by rule, any break above resistance is a buy signal. In this case, 230.5, 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.
The technical summary data is suggesting a short of LH if it tests 230.5 with a downside target of 224.6. We should have a stop loss in place at 231.04 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, 230.5, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Laboratory Corporation Of America Holdings (LH) available here: LH.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
This report provides trading strategies for Laboratory Corporation Of America Holdings (NYSE: LH) while incorporating risk controls.