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 Slm (NYSE: SLM) report below is a real world example. Included are trading plans for SLM, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports .
Long Term Trading Plans for SLM
April 8, 2021, 5:00 am ET
The Technical Summary and Trading Plans for SLM 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 SLM Report.
SLM - (Long) Support Plan
The technical summary data tells us to buy SLM near 17.41, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 17.36 to protect against excessive loss in case the stock begins to move against the trade. 17.41 is the first level of support below 18.81, and by rule, any test of support is a buy signal. In this case, if support 17.41 is being tested, a buy signal would exist.
SLM - (Short) Resistance Plan
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.