Investors often shrug off the impact of stimulus, but when fabricated demand comes into the stock market everything is affected, even Glatfelter Corp (NYSE: GLT) and other stocks that might not be direct beneficiaries. They say, a rising tide lifts all boats, and multiple expansion is a natural byproduct, but it works in both ways. For GLT we can see the impact demand changes have on price by looking at the trading plans and pivot points below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Strong | Strong |
P1 | 0 | 0 | 15.60 |
P2 | 16.20 | 16.40 | 17.22 |
P3 | 16.77 | 17.10 | 18.94 |
Long Term Trading Plans for GLT
March 26, 2021, 1:30 pm ET
The Technical Summary and Trading Plans for GLT 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 GLT Report.
GLT - (Long) Support Plan
The technical summary data tells us to buy GLT near 17.22 with an upside target of 18.94. This data also tells us to set a stop loss @ 17.17 to protect against excessive loss in case the stock begins to move against the trade. 17.22 is the first level of support below 17.71 , and by rule, any test of support is a buy signal. In this case, support 17.22 is being tested, a buy signal would exist.
GLT - (Short) Resistance Plan
The technical summary data is suggesting a short of GLT as it gets near 18.94 with a downside target of 17.22. We should have a stop loss in place at 18.99though. 18.94 is the first level of resistance above 17.71, and by rule, any test of resistance is a short signal. In this case, if resistance 18.94 is being tested, a short signal would exist.