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 Teleflex (NYSE: TFX) report below is a real world example. Included are trading plans for TFX, 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 | Strong | Neutral | Strong |
P1 | 0 | 0 | 373.15 |
P2 | 416.43 | 405.03 | 403.20 |
P3 | 424.98 | 417.73 | 427.91 |
Long Term Trading Plans for TFX
March 12, 2021, 3:15 am ET
The Technical Summary and Trading Plans for TFX 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 TFX Report.
TFX - (Long) Support Plan
The technical summary data tells us to buy TFX near 403.20 with an upside target of 427.91. This data also tells us to set a stop loss @ 402.04 to protect against excessive loss in case the stock begins to move against the trade. 403.20 is the first level of support below 414.71 , and by rule, any test of support is a buy signal. In this case, support 403.20 is being tested, a buy signal would exist.
TFX - (Short) Resistance Plan
The technical summary data is suggesting a short of TFX as it gets near 427.91 with a downside target of 403.20. We should have a stop loss in place at 429.15though. 427.91 is the first level of resistance above 414.71, and by rule, any test of resistance is a short signal. In this case, if resistance 427.91 is being tested, a short signal would exist.