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November 02, 2024, 20:02 pm ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy LMB near 72.32 with an upside target of 81.71. This data also tells us to set a stop loss @ 72.11 to protect against excessive loss in case the stock begins to move against the trade. 72.32 is the first level of support below 76.34 , and by rule, any test of support is a buy signal. In this case, support 72.32 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of LMB as it gets near 81.71 with a downside target of 72.32. We should have a stop loss in place at 81.95though. 81.71 is the first level of resistance above 76.34, and by rule, any test of resistance is a short signal. In this case, if resistance 81.71 is being tested, a short signal would exist.
If 77.68 begins to break higher, the technical summary data tells us to buy LMB just slightly over 77.68, with an upside target of 81.71. The data also tells us to set a stop loss @ 77.46 in case the stock turns against the trade. 77.68 is the first level of resistance above 76.34, and by rule, any break above resistance is a buy signal. In this case, 77.68, 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 LMB if it tests 77.68 with a downside target of 75.15. We should have a stop loss in place at 77.9 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, 77.68, 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 77.68 begins to break higher, the technical summary data tells us to buy LMB just slightly over 77.68, with an upside target of 81.71. The data also tells us to set a stop loss @ 77.5 in case the stock turns against the trade. 77.68 is the first level of resistance above 76.34, and by rule, any break above resistance is a buy signal. In this case, 77.68, 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 LMB if it tests 77.68 with a downside target of 75.6. We should have a stop loss in place at 77.86 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, 77.68, 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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This Limbach Holdings Inc. (NYSE: LMB) 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.