The technical summary data tells us to buy CNXT near 20.14 with an upside target of 21.81. This data also tells us to set a stop loss @ 20.08 to protect against excessive loss in case the stock begins to move against the trade. 20.14 is the first level of support below 21.432 , and by rule, any test of support is a buy signal. In this case, support 20.14 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of CNXT as it gets near 21.81 with a downside target of 20.14. We should have a stop loss in place at 21.87though. 21.81 is the first level of resistance above 21.432, and by rule, any test of resistance is a short signal. In this case, if resistance 21.81 is being tested, so a short signal would exist.
If 21.81 begins to break higher, the technical summary data tells us to buy CNXT just slightly over 21.81, with an upside target of 23.38. The data also tells us to set a stop loss @ 21.75 in case the stock turns against the trade. 21.81 is the first level of resistance above 21.432, and by rule, any break above resistance is a buy signal. In this case, 21.81, 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 CNXT if it tests 21.81 with a downside target of 21.24. We should have a stop loss in place at 21.87 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, 21.81, 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 21.59 begins to break higher, the technical summary data tells us to buy CNXT just slightly over 21.59, with an upside target of 21.81. The data also tells us to set a stop loss @ 21.54 in case the stock turns against the trade. 21.59 is the first level of resistance above 21.432, and by rule, any break above resistance is a buy signal. In this case, 21.59, 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 CNXT if it tests 21.59 with a downside target of 21.27. We should have a stop loss in place at 21.64 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, 21.59, 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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