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December 06, 2024, 21:42 pm ET, BY THOMAS KEE- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy TRI near 162.35 with an upside target of 171.05. This data also tells us to set a stop loss @ 161.88 to protect against excessive loss in case the stock begins to move against the trade. 162.35 is the first level of support below 170.56 , and by rule, any test of support is a buy signal. In this case, support 162.35 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of TRI as it gets near 171.05 with a downside target of 162.35. We should have a stop loss in place at 171.54though. 171.05 is the first level of resistance above 170.56, and by rule, any test of resistance is a short signal. In this case, if resistance 171.05 is being tested, so a short signal would exist.
If 171.05 begins to break higher, the technical summary data tells us to buy TRI just slightly over 171.05, with an upside target of 179.82. The data also tells us to set a stop loss @ 170.56 in case the stock turns against the trade. 171.05 is the first level of resistance above 170.56, and by rule, any break above resistance is a buy signal. In this case, 171.05, 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 TRI if it tests 171.05 with a downside target of 168.79. We should have a stop loss in place at 171.54 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, 171.05, 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 171.05 begins to break higher, the technical summary data tells us to buy TRI just slightly over 171.05, with an upside target of 179.82. The data also tells us to set a stop loss @ 170.65 in case the stock turns against the trade. 171.05 is the first level of resistance above 170.56, and by rule, any break above resistance is a buy signal. In this case, 171.05, 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 TRI if it tests 171.05 with a downside target of 170.38. We should have a stop loss in place at 171.45 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, 171.05, 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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