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December 21, 2024, 13:08 pm ET, BY Rolland S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy PSTR near 27.44 with an upside target of 28.68. This data also tells us to set a stop loss @ 27.36 to protect against excessive loss in case the stock begins to move against the trade. 27.44 is the first level of support below 27.9644 , and by rule, any test of support is a buy signal. In this case, support 27.44 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of PSTR as it gets near 28.68 with a downside target of 27.44. We should have a stop loss in place at 28.76though. 28.68 is the first level of resistance above 27.9644, and by rule, any test of resistance is a short signal. In this case, if resistance 28.68 is being tested, a short signal would exist.
If 28.36 begins to break higher, the technical summary data tells us to buy PSTR just slightly over 28.36, with an upside target of n/a. The data also tells us to set a stop loss @ 28.28 in case the stock turns against the trade. 28.36 is the first level of resistance above 27.9644, and by rule, any break above resistance is a buy signal. In this case, 28.36, 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 PSTR if it tests 28.36 with a downside target of 27.44. We should have a stop loss in place at 28.44 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, 28.36, 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 28.36 begins to break higher, the technical summary data tells us to buy PSTR just slightly over 28.36, with an upside target of 28.68. The data also tells us to set a stop loss @ 28.29 in case the stock turns against the trade. 28.36 is the first level of resistance above 27.9644, and by rule, any break above resistance is a buy signal. In this case, 28.36, 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 PSTR if it tests 28.36 with a downside target of 27.44. We should have a stop loss in place at 28.43 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, 28.36, 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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Trading or Investing in Northern Lights Fund Trust Ii Peakshares Sector Rotation Etf (NASDAQ: PSTR) involves an observation of the technicals, every time. This data reveals the current technicals.