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December 21, 2024, 13:10 pm ET, BY David D.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy QTAP near 36.9 with an upside target of 37.86. This data also tells us to set a stop loss @ 36.79 to protect against excessive loss in case the stock begins to move against the trade. 36.9 is the first level of support below 37.4143 , and by rule, any test of support is a buy signal. In this case, support 36.9 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of QTAP as it gets near 37.86 with a downside target of 36.9. We should have a stop loss in place at 37.97though. 37.86 is the first level of resistance above 37.4143, and by rule, any test of resistance is a short signal. In this case, if resistance 37.86 is being tested, a short signal would exist.
If 37.53 begins to break higher, the technical summary data tells us to buy QTAP just slightly over 37.53, with an upside target of 37.86. The data also tells us to set a stop loss @ 37.42 in case the stock turns against the trade. 37.53 is the first level of resistance above 37.4143, and by rule, any break above resistance is a buy signal. In this case, 37.53, 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 QTAP if it tests 37.53 with a downside target of 36.9. We should have a stop loss in place at 37.64 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, 37.53, 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.
If 37.61 begins to break higher, the technical summary data tells us to buy QTAP just slightly over 37.61, with an upside target of 37.86. The data also tells us to set a stop loss @ 37.52 in case the stock turns against the trade. 37.61 is the first level of resistance above 37.4143, and by rule, any break above resistance is a buy signal. In this case, 37.61, 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 QTAP if it tests 37.61 with a downside target of 36.9. We should have a stop loss in place at 37.7 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, 37.61, 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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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 Innovator Growth Accelerated Plus Etf - April (NASDAQ: QTAP) report below can help you, but we have more details too. The trading plans for QTAP, 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.