When we read the charts for Arrow Electronics (NYSE: ARW) we are able to reach conclusion that are not otherwise discernable. We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented. These are what create trading plans. The example here is for ARW and it demonstrates this practice. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Strong | Strong |
P1 | 0 | 0 | 93.23 |
P2 | 98.45 | 101.70 | 100.83 |
P3 | 101.70 | 106.71 | 108.56 |
Long Term Trading Plans for ARW
February 24, 2021, 8:15 am ET
The Technical Summary and Trading Plans for ARW 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 ARW Report.
ARW - (Long) Support Plan
The technical summary data tells us to buy ARW near 93.23 with an upside target of 100.83. This data also tells us to set a stop loss @ 92.96 to protect against excessive loss in case the stock begins to move against the trade. 93.23 is the first level of support below 100.75 , and by rule, any test of support is a buy signal. In this case, support 93.23 would be being tested, so a buy signal would exist.
ARW - (Short) Resistance Plan
The technical summary data is suggesting a short of ARW as it gets near 100.83 with a downside target of 93.23. We should have a stop loss in place at 101.12though. 100.83 is the first level of resistance above 100.75, and by rule, any test of resistance is a short signal. In this case, if resistance 100.83 is being tested, so a short signal would exist.