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November 05, 2024, 04:32 am ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy WAL near 81.93 with an upside target of 90.87. This data also tells us to set a stop loss @ 81.69 to protect against excessive loss in case the stock begins to move against the trade. 81.93 is the first level of support below 82.41 , and by rule, any test of support is a buy signal. In this case, support 81.93 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of WAL as it gets near 90.87 with a downside target of 81.93. We should have a stop loss in place at 91.13though. 90.87 is the first level of resistance above 82.41, and by rule, any test of resistance is a short signal. In this case, if resistance 90.87 is being tested, a short signal would exist.
If 85.1 begins to break higher, the technical summary data tells us to buy WAL just slightly over 85.1, with an upside target of 90.87. The data also tells us to set a stop loss @ 84.85 in case the stock turns against the trade. 85.1 is the first level of resistance above 82.41, and by rule, any break above resistance is a buy signal. In this case, 85.1, 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 WAL if it tests 85.1 with a downside target of 81.93. We should have a stop loss in place at 85.35 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, 85.1, 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 83.42 begins to break higher, the technical summary data tells us to buy WAL just slightly over 83.42, with an upside target of 85.1. The data also tells us to set a stop loss @ 83.23 in case the stock turns against the trade. 83.42 is the first level of resistance above 82.41, and by rule, any break above resistance is a buy signal. In this case, 83.42, 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 WAL if it tests 83.42 with a downside target of 82.28. We should have a stop loss in place at 83.61 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, 83.42, 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.
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