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December 26, 2024, 00:40 am ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy KAR near 18.97 with an upside target of 20.63. This data also tells us to set a stop loss @ 18.92 to protect against excessive loss in case the stock begins to move against the trade. 18.97 is the first level of support below 20.5 , and by rule, any test of support is a buy signal. In this case, support 18.97 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of KAR as it gets near 20.63 with a downside target of 18.97. We should have a stop loss in place at 20.69though. 20.63 is the first level of resistance above 20.5, and by rule, any test of resistance is a short signal. In this case, if resistance 20.63 is being tested, a short signal would exist.
If 20.63 begins to break higher, the technical summary data tells us to buy KAR just slightly over 20.63, with an upside target of n/a. The data also tells us to set a stop loss @ 20.57 in case the stock turns against the trade. 20.63 is the first level of resistance above 20.5, and by rule, any break above resistance is a buy signal. In this case, 20.63, 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 KAR if it tests 20.63 with a downside target of 20.04. We should have a stop loss in place at 20.69 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, 20.63, 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 20.63 begins to break higher, the technical summary data tells us to buy KAR just slightly over 20.63, with an upside target of n/a. The data also tells us to set a stop loss @ 20.58 in case the stock turns against the trade. 20.63 is the first level of resistance above 20.5, and by rule, any break above resistance is a buy signal. In this case, 20.63, 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 KAR if it tests 20.63 with a downside target of 20.04. We should have a stop loss in place at 20.68 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, 20.63, 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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