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September 28, 2024, 07:44 am ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy AIRR near 70.3 with an upside target of 75.1. This data also tells us to set a stop loss @ 70.1 to protect against excessive loss in case the stock begins to move against the trade. 70.3 is the first level of support below 74.41 , and by rule, any test of support is a buy signal. In this case, support 70.3 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of AIRR as it gets near 75.1 with a downside target of 70.3. We should have a stop loss in place at 75.32though. 75.1 is the first level of resistance above 74.41, and by rule, any test of resistance is a short signal. In this case, if resistance 75.1 is being tested, so a short signal would exist.
If 74.81 begins to break higher, the technical summary data tells us to buy AIRR just slightly over 74.81, with an upside target of 75.1. The data also tells us to set a stop loss @ 74.59 in case the stock turns against the trade. 74.81 is the first level of resistance above 74.41, and by rule, any break above resistance is a buy signal. In this case, 74.81, 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 AIRR if it tests 74.81 with a downside target of 70.3. We should have a stop loss in place at 75.03 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, 74.81, 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 74.81 begins to break higher, the technical summary data tells us to buy AIRR just slightly over 74.81, with an upside target of 75.1. The data also tells us to set a stop loss @ 74.64 in case the stock turns against the trade. 74.81 is the first level of resistance above 74.41, and by rule, any break above resistance is a buy signal. In this case, 74.81, 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 AIRR if it tests 74.81 with a downside target of 74.29. We should have a stop loss in place at 74.98 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, 74.81, 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.
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This report was produced using AI developed by Stock Traders Daily. Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves. This methodology is also applied to Index options, ETFs, and futures. The objective of this specific report is to optimize trading in First Trust Rba American Industrial Renaissance Et (NASDAQ: AIRR) while incorporating prudent risk controls.