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December 24, 2024, 21:24 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FI near 201.38 with an upside target of 216.48. This data also tells us to set a stop loss @ 200.8 to protect against excessive loss in case the stock begins to move against the trade. 201.38 is the first level of support below 209.45 , and by rule, any test of support is a buy signal. In this case, support 201.38 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of FI as it gets near 216.48 with a downside target of 201.38. We should have a stop loss in place at 217.11though. 216.48 is the first level of resistance above 209.45, and by rule, any test of resistance is a short signal. In this case, if resistance 216.48 is being tested, a short signal would exist.
If 216.48 begins to break higher, the technical summary data tells us to buy FI just slightly over 216.48, with an upside target of n/a. The data also tells us to set a stop loss @ 215.85 in case the stock turns against the trade. 216.48 is the first level of resistance above 209.45, and by rule, any break above resistance is a buy signal. In this case, 216.48, 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 FI if it tests 216.48 with a downside target of 207.07. We should have a stop loss in place at 217.11 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, 216.48, 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 216.48 begins to break higher, the technical summary data tells us to buy FI just slightly over 216.48, with an upside target of n/a. The data also tells us to set a stop loss @ 215.97 in case the stock turns against the trade. 216.48 is the first level of resistance above 209.45, and by rule, any break above resistance is a buy signal. In this case, 216.48, 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 FI if it tests 216.48 with a downside target of 207.31. We should have a stop loss in place at 216.99 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, 216.48, 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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Prudent Investment Analysis requires observations of the support and resistance levels for Fiserv Inc. (NYSE: FI) too. These define prudent trading plans.