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 26, 2024, 04:56 am ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy SECT near 54 with an upside target of 55.73. This data also tells us to set a stop loss @ 53.84 to protect against excessive loss in case the stock begins to move against the trade. 54 is the first level of support below 54.12 , and by rule, any test of support is a buy signal. In this case, support 54 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of SECT as it gets near 55.73 with a downside target of 54. We should have a stop loss in place at 55.89though. 55.73 is the first level of resistance above 54.12, and by rule, any test of resistance is a short signal. In this case, if resistance 55.73 is being tested, a short signal would exist.
If 54.45 begins to break higher, the technical summary data tells us to buy SECT just slightly over 54.45, with an upside target of 55.73. The data also tells us to set a stop loss @ 54.29 in case the stock turns against the trade. 54.45 is the first level of resistance above 54.12, and by rule, any break above resistance is a buy signal. In this case, 54.45, 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 SECT if it tests 54.45 with a downside target of 54. We should have a stop loss in place at 54.61 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, 54.45, 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 54.45 begins to break higher, the technical summary data tells us to buy SECT just slightly over 54.45, with an upside target of 55.73. The data also tells us to set a stop loss @ 54.32 in case the stock turns against the trade. 54.45 is the first level of resistance above 54.12, and by rule, any break above resistance is a buy signal. In this case, 54.45, 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 SECT if it tests 54.45 with a downside target of 54. We should have a stop loss in place at 54.58 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, 54.45, 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.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
Prudent Investment Analysis requires observations of the support and resistance levels for Main Sector Rotation Etf (NASDAQ: SECT) too. These define prudent trading plans.