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Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Neutral | Strong | Strong |
P1 | 0 | 0 | 93.84 |
P2 | 106.84 | 108.69 | 101.65 |
P3 | 109.67 | 114.28 | 108.67 |
Long Term Trading Plans for ABC
November 17, 2020, 11:30 am ET
The Technical Summary and Trading Plans for ABC 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 ABC Report.
ABC - (Long) Support Plan
The technical summary data tells us to buy ABC near 101.65 with an upside target of 108.67. This data also tells us to set a stop loss @ 101.36 to protect against excessive loss in case the stock begins to move against the trade. 101.65 is the first level of support below 104.99 , and by rule, any test of support is a buy signal. In this case, support 101.65 is being tested, a buy signal would exist.
ABC - (Short) Resistance Plan
The technical summary data is suggesting a short of ABC as it gets near 108.67 with a downside target of 101.65. We should have a stop loss in place at 108.98 though. 108.67 is the first level of resistance above 104.99, and by rule, any test of resistance is a short signal. In this case, if resistance 108.67 is being tested, a short signal would exist.