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November 23, 2024, 18:56 pm ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy IHE near 68.19 with an upside target of 71.15. This data also tells us to set a stop loss @ 67.99 to protect against excessive loss in case the stock begins to move against the trade. 68.19 is the first level of support below 68.3901 , and by rule, any test of support is a buy signal. In this case, support 68.19 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of IHE as it gets near 71.15 with a downside target of 68.19. We should have a stop loss in place at 71.36though. 71.15 is the first level of resistance above 68.3901, and by rule, any test of resistance is a short signal. In this case, if resistance 71.15 is being tested, so a short signal would exist.
If 71.15 begins to break higher, the technical summary data tells us to buy IHE just slightly over 71.15, with an upside target of 74.06. The data also tells us to set a stop loss @ 70.94 in case the stock turns against the trade. 71.15 is the first level of resistance above 68.3901, and by rule, any break above resistance is a buy signal. In this case, 71.15, 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 IHE if it tests 71.15 with a downside target of 68.19. We should have a stop loss in place at 71.36 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, 71.15, 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 71.15 begins to break higher, the technical summary data tells us to buy IHE just slightly over 71.15, with an upside target of 74.06. The data also tells us to set a stop loss @ 70.98 in case the stock turns against the trade. 71.15 is the first level of resistance above 68.3901, and by rule, any break above resistance is a buy signal. In this case, 71.15, 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 IHE if it tests 71.15 with a downside target of 68.19. We should have a stop loss in place at 71.32 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, 71.15, 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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