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...
October 15, 2024, 01:26 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy BFEB near 41.31 with an upside target of 42.45. This data also tells us to set a stop loss @ 41.19 to protect against excessive loss in case the stock begins to move against the trade. 41.31 is the first level of support below 42.2302 , and by rule, any test of support is a buy signal. In this case, support 41.31 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of BFEB as it gets near 42.45 with a downside target of 41.31. We should have a stop loss in place at 42.57though. 42.45 is the first level of resistance above 42.2302, and by rule, any test of resistance is a short signal. In this case, if resistance 42.45 is being tested, so a short signal would exist.
If 42.45 begins to break higher, the technical summary data tells us to buy BFEB just slightly over 42.45, with an upside target of n/a. The data also tells us to set a stop loss @ 42.33 in case the stock turns against the trade. 42.45 is the first level of resistance above 42.2302, and by rule, any break above resistance is a buy signal. In this case, 42.45, 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 BFEB if it tests 42.45 with a downside target of 42.15. We should have a stop loss in place at 42.57 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, 42.45, 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 42.24 begins to break higher, the technical summary data tells us to buy BFEB just slightly over 42.24, with an upside target of 42.45. The data also tells us to set a stop loss @ 42.14 in case the stock turns against the trade. 42.24 is the first level of resistance above 42.2302, and by rule, any break above resistance is a buy signal. In this case, 42.24, 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 BFEB if it tests 42.24 with a downside target of 41.31. We should have a stop loss in place at 42.34 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, 42.24, 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.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
This Innovator U.s. Equity Buffer Etf - February (NASDAQ: BFEB) report was produced by Stock Traders Daily. Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.