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December 25, 2024, 19:04 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
The technical summary data is suggesting a short of INSW as it gets near 37.46, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 37.57. 37.46 is the first level of resistance above 36.92, and by rule, any test of resistance is a short signal. In this case, if resistance 37.46 is being tested, so a short signal would exist.
If 37.46 begins to break higher, the technical summary data tells us to buy INSW just slightly over 37.46, with an upside target of 44.37. The data also tells us to set a stop loss @ 37.35 in case the stock turns against the trade. 37.46 is the first level of resistance above 36.92, and by rule, any break above resistance is a buy signal. In this case, 37.46, 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 INSW if it tests 37.46 with a downside target of 34.22. We should have a stop loss in place at 37.57 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, 37.46, 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 37.46 begins to break higher, the technical summary data tells us to buy INSW just slightly over 37.46, with an upside target of 44.37. The data also tells us to set a stop loss @ 37.37 in case the stock turns against the trade. 37.46 is the first level of resistance above 36.92, and by rule, any break above resistance is a buy signal. In this case, 37.46, 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 INSW if it tests 37.46 with a downside target of 35.71. We should have a stop loss in place at 37.55 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, 37.46, 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 International Seaways Inc. (NASDAQ: INSW) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.