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November 26, 2024, 18:56 pm ET, BY David D.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy XHS near 96.61 with an upside target of 100.34. This data also tells us to set a stop loss @ 96.33 to protect against excessive loss in case the stock begins to move against the trade. 96.61 is the first level of support below 97.3383 , and by rule, any test of support is a buy signal. In this case, support 96.61 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of XHS as it gets near 100.34 with a downside target of 96.61. We should have a stop loss in place at 100.63though. 100.34 is the first level of resistance above 97.3383, and by rule, any test of resistance is a short signal. In this case, if resistance 100.34 is being tested, a short signal would exist.
If 100.34 begins to break higher, the technical summary data tells us to buy XHS just slightly over 100.34, with an upside target of n/a. The data also tells us to set a stop loss @ 100.05 in case the stock turns against the trade. 100.34 is the first level of resistance above 97.3383, and by rule, any break above resistance is a buy signal. In this case, 100.34, 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 XHS if it tests 100.34 with a downside target of 96.61. We should have a stop loss in place at 100.63 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, 100.34, 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 97.57 begins to break higher, the technical summary data tells us to buy XHS just slightly over 97.57, with an upside target of 98.82. The data also tells us to set a stop loss @ 97.34 in case the stock turns against the trade. 97.57 is the first level of resistance above 97.3383, and by rule, any break above resistance is a buy signal. In this case, 97.57, 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 XHS if it tests 97.57 with a downside target of 96.61. We should have a stop loss in place at 97.8 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, 97.57, 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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