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December 07, 2024, 21:02 pm ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy ICF near 61.08 with an upside target of 64.48. This data also tells us to set a stop loss @ 60.9 to protect against excessive loss in case the stock begins to move against the trade. 61.08 is the first level of support below 64.45 , and by rule, any test of support is a buy signal. In this case, support 61.08 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of ICF as it gets near 64.48 with a downside target of 61.08. We should have a stop loss in place at 64.67though. 64.48 is the first level of resistance above 64.45, and by rule, any test of resistance is a short signal. In this case, if resistance 64.48 is being tested, so a short signal would exist.
If 64.48 begins to break higher, the technical summary data tells us to buy ICF just slightly over 64.48, with an upside target of 65.89. The data also tells us to set a stop loss @ 64.29 in case the stock turns against the trade. 64.48 is the first level of resistance above 64.45, and by rule, any break above resistance is a buy signal. In this case, 64.48, 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 ICF if it tests 64.48 with a downside target of 64.14. We should have a stop loss in place at 64.67 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, 64.48, 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 64.48 begins to break higher, the technical summary data tells us to buy ICF just slightly over 64.48, with an upside target of 65.89. The data also tells us to set a stop loss @ 64.33 in case the stock turns against the trade. 64.48 is the first level of resistance above 64.45, and by rule, any break above resistance is a buy signal. In this case, 64.48, 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 ICF if it tests 64.48 with a downside target of 64.24. We should have a stop loss in place at 64.63 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, 64.48, 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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Trading Ishares Cohen & Steers Reit Etf (NYSE: ICF) can be efficient and rewarding, especially in volatile markets, so long as the important pivot points for the stock are observed before making decisions to buy, sell, or short.