SSD - When Simpson Manufacturing Moves Investors should Listen
How do we know what is going on behind the scenes of a company? According to Stock Traders Daily, a 20-year industry innovator, the best way to do this to to watch the price action in the stock. The Simpson Manufacturing (NYSE: SSD) report below is a real world example. Included are trading plans for SSD, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Neutral | |||
| Neutral | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 96.51 | |||
| P2 | |||
| 101.53 | |||
| 99.32 | |||
| 106.05 | |||
| P3 | |||
| 103.95 | |||
| 103.29 | |||
| 115.50 |
Long Term Trading Plans for SSD
March 30, 2021, 7:45 am ET
The Technical Summary and Trading Plans for SSD help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SSD Report.
SSD - (Long) Support Plan
The technical summary data tells us to buy SSD near 96.51 with an upside target of 106.05. This data also tells us to set a stop loss @ 96.23 to protect against excessive loss in case the stock begins to move against the trade. 96.51 is the first level of support below 101.5 , and by rule, any test of support is a buy signal. In this case, support 96.51 would be being tested, so a buy signal would exist.
SSD - (Short) Resistance Plan
The technical summary data is suggesting a short of SSD as it gets near 106.05 with a downside target of 96.51. We should have a stop loss in place at 106.36though. 106.05 is the first level of resistance above 101.5, and by rule, any test of resistance is a short signal. In this case, if resistance 106.05 is being tested, so a short signal would exist.