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November 23, 2024, 18:46 pm ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy IGOV near 39 with an upside target of 40.28. This data also tells us to set a stop loss @ 38.89 to protect against excessive loss in case the stock begins to move against the trade. 39 is the first level of support below 39.2 , and by rule, any test of support is a buy signal. In this case, support 39 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of IGOV as it gets near 40.28 with a downside target of 39. We should have a stop loss in place at 40.4though. 40.28 is the first level of resistance above 39.2, and by rule, any test of resistance is a short signal. In this case, if resistance 40.28 is being tested, so a short signal would exist.
If 39.38 begins to break higher, the technical summary data tells us to buy IGOV just slightly over 39.38, with an upside target of 40.28. The data also tells us to set a stop loss @ 39.27 in case the stock turns against the trade. 39.38 is the first level of resistance above 39.2, and by rule, any break above resistance is a buy signal. In this case, 39.38, 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 IGOV if it tests 39.38 with a downside target of 39. We should have a stop loss in place at 39.49 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, 39.38, 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 39.47 begins to break higher, the technical summary data tells us to buy IGOV just slightly over 39.47, with an upside target of 40.28. The data also tells us to set a stop loss @ 39.38 in case the stock turns against the trade. 39.47 is the first level of resistance above 39.2, and by rule, any break above resistance is a buy signal. In this case, 39.47, 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 IGOV if it tests 39.47 with a downside target of 39.16. We should have a stop loss in place at 39.56 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, 39.47, 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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Technically, Ishares S&p/citigroup International Treasury Bond (NASDAQ: IGOV) provides opportunities for traders who are watching the price of the stock oscillate over time.