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December 22, 2024, 03:46 am ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy ADNT near 15.8 with an upside target of 18.03. This data also tells us to set a stop loss @ 15.75 to protect against excessive loss in case the stock begins to move against the trade. 15.8 is the first level of support below 16.85 , and by rule, any test of support is a buy signal. In this case, support 15.8 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of ADNT as it gets near 18.03 with a downside target of 15.8. We should have a stop loss in place at 18.08though. 18.03 is the first level of resistance above 16.85, and by rule, any test of resistance is a short signal. In this case, if resistance 18.03 is being tested, so a short signal would exist.
If 17.59 begins to break higher, the technical summary data tells us to buy ADNT just slightly over 17.59, with an upside target of 18.03. The data also tells us to set a stop loss @ 17.54 in case the stock turns against the trade. 17.59 is the first level of resistance above 16.85, and by rule, any break above resistance is a buy signal. In this case, 17.59, 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 ADNT if it tests 17.59 with a downside target of 16.56. We should have a stop loss in place at 17.64 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, 17.59, 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 17.24 begins to break higher, the technical summary data tells us to buy ADNT just slightly over 17.24, with an upside target of 17.59. The data also tells us to set a stop loss @ 17.2 in case the stock turns against the trade. 17.24 is the first level of resistance above 16.85, and by rule, any break above resistance is a buy signal. In this case, 17.24, 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 ADNT if it tests 17.24 with a downside target of 16.71. We should have a stop loss in place at 17.28 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, 17.24, 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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Trading or Investing in Adient Plc (NASDAQ: ADNT) involves an observation of the technicals, every time. This data reveals the current technicals.