Our Signals help define rules-based Trading Plans predicated on the Basic Rules of Tehnical Analysis. Take a trial, review our Index ETF Signals, macro, more...
August 11, 2024, 12:00 pm ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy EHAB near 7.39 with an upside target of 9.13. This data also tells us to set a stop loss @ 7.37 to protect against excessive loss in case the stock begins to move against the trade. 7.39 is the first level of support below 8.46 , and by rule, any test of support is a buy signal. In this case, support 7.39 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of EHAB as it gets near 9.13 with a downside target of 7.39. We should have a stop loss in place at 9.16though. 9.13 is the first level of resistance above 8.46, and by rule, any test of resistance is a short signal. In this case, if resistance 9.13 is being tested, so a short signal would exist.
If 9.13 begins to break higher, the technical summary data tells us to buy EHAB just slightly over 9.13, with an upside target of 10.71. The data also tells us to set a stop loss @ 9.1 in case the stock turns against the trade. 9.13 is the first level of resistance above 8.46, and by rule, any break above resistance is a buy signal. In this case, 9.13, 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 EHAB if it tests 9.13 with a downside target of 8.13. We should have a stop loss in place at 9.16 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, 9.13, 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 8.53 begins to break higher, the technical summary data tells us to buy EHAB just slightly over 8.53, with an upside target of 9.13. The data also tells us to set a stop loss @ 8.51 in case the stock turns against the trade. 8.53 is the first level of resistance above 8.46, and by rule, any break above resistance is a buy signal. In this case, 8.53, 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 EHAB if it tests 8.53 with a downside target of 8.13. We should have a stop loss in place at 8.55 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, 8.53, 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.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Enhabit Inc. (NASDAQ: EHAB) report below can help you, but we have more details too. The trading plans for EHAB, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.