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November 23, 2024, 03:28 am ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FRPT near 150.3 with an upside target of 163.13. This data also tells us to set a stop loss @ 149.87 to protect against excessive loss in case the stock begins to move against the trade. 150.3 is the first level of support below 156.76 , and by rule, any test of support is a buy signal. In this case, support 150.3 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of FRPT as it gets near 163.13 with a downside target of 150.3. We should have a stop loss in place at 163.6though. 163.13 is the first level of resistance above 156.76, and by rule, any test of resistance is a short signal. In this case, if resistance 163.13 is being tested, a short signal would exist.
If 163.13 begins to break higher, the technical summary data tells us to buy FRPT just slightly over 163.13, with an upside target of n/a. The data also tells us to set a stop loss @ 162.66 in case the stock turns against the trade. 163.13 is the first level of resistance above 156.76, and by rule, any break above resistance is a buy signal. In this case, 163.13, 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 FRPT if it tests 163.13 with a downside target of 155.69. We should have a stop loss in place at 163.6 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, 163.13, 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.
If 157.67 begins to break higher, the technical summary data tells us to buy FRPT just slightly over 157.67, with an upside target of 163.13. The data also tells us to set a stop loss @ 157.3 in case the stock turns against the trade. 157.67 is the first level of resistance above 156.76, and by rule, any break above resistance is a buy signal. In this case, 157.67, 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 FRPT if it tests 157.67 with a downside target of 155.69. We should have a stop loss in place at 158.04 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, 157.67, 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.
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Trading or Investing in Freshpet Inc. (NASDAQ: FRPT) involves an observation of the technicals, every time. This data reveals the current technicals.