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December 24, 2024, 19:14 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FBK near 47.79 with an upside target of 52.65. This data also tells us to set a stop loss @ 47.65 to protect against excessive loss in case the stock begins to move against the trade. 47.79 is the first level of support below 52.35 , and by rule, any test of support is a buy signal. In this case, support 47.79 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of FBK as it gets near 52.65 with a downside target of 47.79. We should have a stop loss in place at 52.8though. 52.65 is the first level of resistance above 52.35, and by rule, any test of resistance is a short signal. In this case, if resistance 52.65 is being tested, so a short signal would exist.
If 52.65 begins to break higher, the technical summary data tells us to buy FBK just slightly over 52.65, with an upside target of 52.96. The data also tells us to set a stop loss @ 52.5 in case the stock turns against the trade. 52.65 is the first level of resistance above 52.35, and by rule, any break above resistance is a buy signal. In this case, 52.65, 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 FBK if it tests 52.65 with a downside target of 50.69. We should have a stop loss in place at 52.8 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, 52.65, 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 52.65 begins to break higher, the technical summary data tells us to buy FBK just slightly over 52.65, with an upside target of 52.96. The data also tells us to set a stop loss @ 52.53 in case the stock turns against the trade. 52.65 is the first level of resistance above 52.35, and by rule, any break above resistance is a buy signal. In this case, 52.65, 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 FBK if it tests 52.65 with a downside target of 51.41. We should have a stop loss in place at 52.77 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, 52.65, 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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This report provides trading strategies for Fb Financial Corporation (NYSE: FBK) while incorporating risk controls.