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December 24, 2024, 21:26 pm ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FIAX near 19.01 with an upside target of 19.26. This data also tells us to set a stop loss @ 18.96 to protect against excessive loss in case the stock begins to move against the trade. 19.01 is the first level of support below 19.17 , and by rule, any test of support is a buy signal. In this case, support 19.01 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of FIAX as it gets near 19.26 with a downside target of 19.01. We should have a stop loss in place at 19.32though. 19.26 is the first level of resistance above 19.17, and by rule, any test of resistance is a short signal. In this case, if resistance 19.26 is being tested, so a short signal would exist.
If 19.26 begins to break higher, the technical summary data tells us to buy FIAX just slightly over 19.26, with an upside target of n/a. The data also tells us to set a stop loss @ 19.2 in case the stock turns against the trade. 19.26 is the first level of resistance above 19.17, and by rule, any break above resistance is a buy signal. In this case, 19.26, 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 FIAX if it tests 19.26 with a downside target of n/a. We should have a stop loss in place at 19.32 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, 19.26, 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 19.26 begins to break higher, the technical summary data tells us to buy FIAX just slightly over 19.26, with an upside target of 19.51. The data also tells us to set a stop loss @ 19.22 in case the stock turns against the trade. 19.26 is the first level of resistance above 19.17, and by rule, any break above resistance is a buy signal. In this case, 19.26, 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 FIAX if it tests 19.26 with a downside target of n/a. We should have a stop loss in place at 19.3 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, 19.26, 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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Don't over think it! Trading Nicholas Fixed Income Alternative Etf (NASDAQ: FIAX) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions. This should be an integral part of the investment process.