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November 11, 2024, 19:24 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy DSGR near 37.78 with an upside target of 41.51. This data also tells us to set a stop loss @ 37.67 to protect against excessive loss in case the stock begins to move against the trade. 37.78 is the first level of support below 40.85 , and by rule, any test of support is a buy signal. In this case, support 37.78 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of DSGR as it gets near 41.51 with a downside target of 37.78. We should have a stop loss in place at 41.63though. 41.51 is the first level of resistance above 40.85, and by rule, any test of resistance is a short signal. In this case, if resistance 41.51 is being tested, a short signal would exist.
If 41.51 begins to break higher, the technical summary data tells us to buy DSGR just slightly over 41.51, with an upside target of n/a. The data also tells us to set a stop loss @ 41.39 in case the stock turns against the trade. 41.51 is the first level of resistance above 40.85, and by rule, any break above resistance is a buy signal. In this case, 41.51, 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 DSGR if it tests 41.51 with a downside target of 37.78. We should have a stop loss in place at 41.63 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, 41.51, 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 40.96 begins to break higher, the technical summary data tells us to buy DSGR just slightly over 40.96, with an upside target of 41.51. The data also tells us to set a stop loss @ 40.86 in case the stock turns against the trade. 40.96 is the first level of resistance above 40.85, and by rule, any break above resistance is a buy signal. In this case, 40.96, 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 DSGR if it tests 40.96 with a downside target of 37.78. We should have a stop loss in place at 41.06 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, 40.96, 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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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Distribution Solutions Group Inc. (NASDAQ: DSGR) data table below can help you with price action, and we have more details too. Trading plans for DSGR are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.