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December 12, 2024, 01:00 am ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy LII near 638.75 with an upside target of 671.46. This data also tells us to set a stop loss @ 636.91 to protect against excessive loss in case the stock begins to move against the trade. 638.75 is the first level of support below 657.48 , and by rule, any test of support is a buy signal. In this case, support 638.75 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of LII as it gets near 671.46 with a downside target of 638.75. We should have a stop loss in place at 673.4though. 671.46 is the first level of resistance above 657.48, and by rule, any test of resistance is a short signal. In this case, if resistance 671.46 is being tested, a short signal would exist.
If 671.46 begins to break higher, the technical summary data tells us to buy LII just slightly over 671.46, with an upside target of n/a. The data also tells us to set a stop loss @ 669.52 in case the stock turns against the trade. 671.46 is the first level of resistance above 657.48, and by rule, any break above resistance is a buy signal. In this case, 671.46, 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 LII if it tests 671.46 with a downside target of 654.53. We should have a stop loss in place at 673.4 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, 671.46, 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 671.46 begins to break higher, the technical summary data tells us to buy LII just slightly over 671.46, with an upside target of n/a. The data also tells us to set a stop loss @ 669.89 in case the stock turns against the trade. 671.46 is the first level of resistance above 657.48, and by rule, any break above resistance is a buy signal. In this case, 671.46, 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 LII if it tests 671.46 with a downside target of 654.53. We should have a stop loss in place at 673.03 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, 671.46, 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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The data for Lennox International Inc. (NYSE: LII) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.