Our Signals help define rules-based Trading Plans predicated on the Basic Rules of Tehnical Analysis. Take a trial, review our Index ETF Signals, macro, more...
September 16, 2024, 22:10 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy LIT near 37.27 with an upside target of 40.01. This data also tells us to set a stop loss @ 37.16 to protect against excessive loss in case the stock begins to move against the trade. 37.27 is the first level of support below 37.28 , and by rule, any test of support is a buy signal. In this case, support 37.27 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of LIT as it gets near 40.01 with a downside target of 37.27. We should have a stop loss in place at 40.13though. 40.01 is the first level of resistance above 37.28, and by rule, any test of resistance is a short signal. In this case, if resistance 40.01 is being tested, a short signal would exist.
If 37.61 begins to break higher, the technical summary data tells us to buy LIT just slightly over 37.61, with an upside target of 40.01. The data also tells us to set a stop loss @ 37.5 in case the stock turns against the trade. 37.61 is the first level of resistance above 37.28, and by rule, any break above resistance is a buy signal. In this case, 37.61, 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 LIT if it tests 37.61 with a downside target of 37.27. We should have a stop loss in place at 37.72 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, 37.61, 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 37.61 begins to break higher, the technical summary data tells us to buy LIT just slightly over 37.61, with an upside target of 38.73. The data also tells us to set a stop loss @ 37.52 in case the stock turns against the trade. 37.61 is the first level of resistance above 37.28, and by rule, any break above resistance is a buy signal. In this case, 37.61, 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 LIT if it tests 37.61 with a downside target of 37.27. We should have a stop loss in place at 37.7 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, 37.61, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Global X Lithium & Battery Tech Etf (LIT) available here: LIT.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
This report provides trading strategies for Global X Lithium & Battery Tech Etf (NYSE: LIT) while incorporating risk controls.