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September 19, 2024, 04:02 am ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy EUFN near 24.13 with an upside target of 25.02. This data also tells us to set a stop loss @ 24.06 to protect against excessive loss in case the stock begins to move against the trade. 24.13 is the first level of support below 24.26 , and by rule, any test of support is a buy signal. In this case, support 24.13 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of EUFN as it gets near 25.02 with a downside target of 24.13. We should have a stop loss in place at 25.09though. 25.02 is the first level of resistance above 24.26, and by rule, any test of resistance is a short signal. In this case, if resistance 25.02 is being tested, a short signal would exist.
If 24.45 begins to break higher, the technical summary data tells us to buy EUFN just slightly over 24.45, with an upside target of 25.02. The data also tells us to set a stop loss @ 24.38 in case the stock turns against the trade. 24.45 is the first level of resistance above 24.26, and by rule, any break above resistance is a buy signal. In this case, 24.45, 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 EUFN if it tests 24.45 with a downside target of 24.13. We should have a stop loss in place at 24.52 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, 24.45, 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 24.55 begins to break higher, the technical summary data tells us to buy EUFN just slightly over 24.55, with an upside target of 25.02. The data also tells us to set a stop loss @ 24.49 in case the stock turns against the trade. 24.55 is the first level of resistance above 24.26, and by rule, any break above resistance is a buy signal. In this case, 24.55, 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 EUFN if it tests 24.55 with a downside target of 24.13. We should have a stop loss in place at 24.61 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, 24.55, 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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The data for Ishares Msci Europe Financial Sector Index Fund (NASDAQ: EUFN) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.