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December 26, 2024, 10:26 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy MOH near 263.08 with an upside target of 299.53. This data also tells us to set a stop loss @ 262.32 to protect against excessive loss in case the stock begins to move against the trade. 263.08 is the first level of support below 294.305 , and by rule, any test of support is a buy signal. In this case, support 263.08 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of MOH as it gets near 299.53 with a downside target of 263.08. We should have a stop loss in place at 300.4though. 299.53 is the first level of resistance above 294.305, and by rule, any test of resistance is a short signal. In this case, if resistance 299.53 is being tested, so a short signal would exist.
If 297.38 begins to break higher, the technical summary data tells us to buy MOH just slightly over 297.38, with an upside target of 299.53. The data also tells us to set a stop loss @ 296.52 in case the stock turns against the trade. 297.38 is the first level of resistance above 294.305, and by rule, any break above resistance is a buy signal. In this case, 297.38, 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 MOH if it tests 297.38 with a downside target of 289.02. We should have a stop loss in place at 298.24 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, 297.38, 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 296.67 begins to break higher, the technical summary data tells us to buy MOH just slightly over 296.67, with an upside target of 297.38. The data also tells us to set a stop loss @ 295.98 in case the stock turns against the trade. 296.67 is the first level of resistance above 294.305, and by rule, any break above resistance is a buy signal. In this case, 296.67, 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 MOH if it tests 296.67 with a downside target of 292.58. We should have a stop loss in place at 297.36 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, 296.67, 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 Molina Healthcare Inc (NYSE: MOH) trading report incorporates analysis also used by some of the biggest funds in the world. Review the technical takeaways closely.