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March 19, 2024, 02:42 am ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy BBSA near 47.28 with an upside target of 47.85. This data also tells us to set a stop loss @ 47.14 to protect against excessive loss in case the stock begins to move against the trade. 47.28 is the first level of support below 47.3871 , and by rule, any test of support is a buy signal. In this case, support 47.28 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of BBSA as it gets near 47.85 with a downside target of 47.28. We should have a stop loss in place at 47.99though. 47.85 is the first level of resistance above 47.3871, and by rule, any test of resistance is a short signal. In this case, if resistance 47.85 is being tested, a short signal would exist.
If 47.6 begins to break higher, the technical summary data tells us to buy BBSA just slightly over 47.6, with an upside target of 47.85. The data also tells us to set a stop loss @ 47.46 in case the stock turns against the trade. 47.6 is the first level of resistance above 47.3871, and by rule, any break above resistance is a buy signal. In this case, 47.6, 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 BBSA if it tests 47.6 with a downside target of 47.37. We should have a stop loss in place at 47.74 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, 47.6, 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 47.6 begins to break higher, the technical summary data tells us to buy BBSA just slightly over 47.6, with an upside target of 47.85. The data also tells us to set a stop loss @ 47.49 in case the stock turns against the trade. 47.6 is the first level of resistance above 47.3871, and by rule, any break above resistance is a buy signal. In this case, 47.6, 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 BBSA if it tests 47.6 with a downside target of 47.37. We should have a stop loss in place at 47.71 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, 47.6, 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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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Jpmorgan Betabuilders 1-5 Year U.s. Aggregate Bond Etf (NASDAQ: BBSA) report below is a real world example. Included are trading plans for BBSA, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.