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November 17, 2024, 06:38 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy RXI near 171.4 with an upside target of 178.81. This data also tells us to set a stop loss @ 170.9 to protect against excessive loss in case the stock begins to move against the trade. 171.4 is the first level of support below 177.78 , and by rule, any test of support is a buy signal. In this case, support 171.4 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of RXI as it gets near 178.81 with a downside target of 171.4. We should have a stop loss in place at 179.33though. 178.81 is the first level of resistance above 177.78, and by rule, any test of resistance is a short signal. In this case, if resistance 178.81 is being tested, a short signal would exist.
If 178.81 begins to break higher, the technical summary data tells us to buy RXI just slightly over 178.81, with an upside target of 180.07. The data also tells us to set a stop loss @ 178.29 in case the stock turns against the trade. 178.81 is the first level of resistance above 177.78, and by rule, any break above resistance is a buy signal. In this case, 178.81, 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 RXI if it tests 178.81 with a downside target of 171.4. We should have a stop loss in place at 179.33 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, 178.81, 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 178.81 begins to break higher, the technical summary data tells us to buy RXI just slightly over 178.81, with an upside target of 179.07. The data also tells us to set a stop loss @ 178.39 in case the stock turns against the trade. 178.81 is the first level of resistance above 177.78, and by rule, any break above resistance is a buy signal. In this case, 178.81, 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 RXI if it tests 178.81 with a downside target of 176.65. We should have a stop loss in place at 179.23 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, 178.81, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Ishares Global Consumer Discretionary Etf (RXI) available here: RXI.
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