The technical summary data is suggesting a short of EWG as it gets near 32.87 with a downside target of 31.65. We should have a stop loss in place at 32.96though. 32.87 is the first level of resistance above 31.8, and by rule, any test of resistance is a short signal. In this case, if resistance 32.87 is being tested, so a short signal would exist.

If 32.87 begins to break higher, the technical summary data tells us to buy EWG just slightly over 32.87, with an upside target of 34.05. The data also tells us to set a stop loss @ 32.78 in case the stock turns against the trade. 32.87 is the first level of resistance above 31.8, and by rule, any break above resistance is a buy signal. In this case, 32.87, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

The technical summary data is suggesting a short of EWG if it tests 32.87 with a downside target of 31.65. We should have a stop loss in place at 32.96 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 32.87, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.