The technical summary data tells us to buy CTLT near 50.83 with an upside target of 56.84. This data also tells us to set a stop loss @ 50.68 to protect against excessive loss in case the stock begins to move against the trade. 50.83 is the first level of support below 56.23 , and by rule, any test of support is a buy signal. In this case, support 50.83 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of CTLT as it gets near 56.84 with a downside target of 50.83. We should have a stop loss in place at 57though. 56.84 is the first level of resistance above 56.23, and by rule, any test of resistance is a short signal. In this case, if resistance 56.84 is being tested, so a short signal would exist.
If 56.87 begins to break higher, the technical summary data tells us to buy CTLT just slightly over 56.87, with an upside target of 62.15. The data also tells us to set a stop loss @ 56.71 in case the stock turns against the trade. 56.87 is the first level of resistance above 56.23, and by rule, any break above resistance is a buy signal. In this case, 56.87, 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 CTLT if it tests 56.87 with a downside target of 55.76. We should have a stop loss in place at 57.03 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, 56.87, 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 56.32 begins to break higher, the technical summary data tells us to buy CTLT just slightly over 56.32, with an upside target of 56.87. The data also tells us to set a stop loss @ 56.19 in case the stock turns against the trade. 56.32 is the first level of resistance above 56.23, and by rule, any break above resistance is a buy signal. In this case, 56.32, 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 CTLT if it tests 56.32 with a downside target of 55.88. We should have a stop loss in place at 56.45 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, 56.32, 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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Prudent Investment Analysis requires observations of the support and resistance levels for Catalent Inc. (NASDAQ: CTLT) too. These define prudent trading plans.