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October 01, 2024, 23:00 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy NPK near 71.95 with an upside target of 76.91. This data also tells us to set a stop loss @ 71.74 to protect against excessive loss in case the stock begins to move against the trade. 71.95 is the first level of support below 74.36 , and by rule, any test of support is a buy signal. In this case, support 71.95 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of NPK as it gets near 76.91 with a downside target of 71.95. We should have a stop loss in place at 77.13though. 76.91 is the first level of resistance above 74.36, and by rule, any test of resistance is a short signal. In this case, if resistance 76.91 is being tested, so a short signal would exist.
If 75.19 begins to break higher, the technical summary data tells us to buy NPK just slightly over 75.19, with an upside target of 76.91. The data also tells us to set a stop loss @ 74.97 in case the stock turns against the trade. 75.19 is the first level of resistance above 74.36, and by rule, any break above resistance is a buy signal. In this case, 75.19, 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 NPK if it tests 75.19 with a downside target of 73.77. We should have a stop loss in place at 75.41 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, 75.19, 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 74.56 begins to break higher, the technical summary data tells us to buy NPK just slightly over 74.56, with an upside target of 75.32. The data also tells us to set a stop loss @ 74.39 in case the stock turns against the trade. 74.56 is the first level of resistance above 74.36, and by rule, any break above resistance is a buy signal. In this case, 74.56, 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 NPK if it tests 74.56 with a downside target of 73.77. We should have a stop loss in place at 74.73 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, 74.56, 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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