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December 21, 2024, 21:34 pm ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy MTUL near 28.4 with an upside target of 31.23. This data also tells us to set a stop loss @ 28.32 to protect against excessive loss in case the stock begins to move against the trade. 28.4 is the first level of support below 30.1557 , and by rule, any test of support is a buy signal. In this case, support 28.4 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of MTUL as it gets near 31.23 with a downside target of 28.4. We should have a stop loss in place at 31.32though. 31.23 is the first level of resistance above 30.1557, and by rule, any test of resistance is a short signal. In this case, if resistance 31.23 is being tested, so a short signal would exist.
If 30.8 begins to break higher, the technical summary data tells us to buy MTUL just slightly over 30.8, with an upside target of 31.32. The data also tells us to set a stop loss @ 30.71 in case the stock turns against the trade. 30.8 is the first level of resistance above 30.1557, and by rule, any break above resistance is a buy signal. In this case, 30.8, 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 MTUL if it tests 30.8 with a downside target of 28.4. We should have a stop loss in place at 30.89 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, 30.8, 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 30.38 begins to break higher, the technical summary data tells us to buy MTUL just slightly over 30.38, with an upside target of 30.83. The data also tells us to set a stop loss @ 30.31 in case the stock turns against the trade. 30.38 is the first level of resistance above 30.1557, and by rule, any break above resistance is a buy signal. In this case, 30.38, 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 MTUL if it tests 30.38 with a downside target of 28.4. We should have a stop loss in place at 30.45 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, 30.38, 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.
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Technically, Ubs Ag London Branch Zc Sp Etn Perpetual Usd - Mtul (NASDAQ: MTUL) provides opportunities for traders who are watching the price of the stock oscillate over time.