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October 19, 2024, 10:52 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy PWV near 59.22 with an upside target of 61.26. This data also tells us to set a stop loss @ 59.05 to protect against excessive loss in case the stock begins to move against the trade. 59.22 is the first level of support below 59.6963 , and by rule, any test of support is a buy signal. In this case, support 59.22 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of PWV as it gets near 61.26 with a downside target of 59.22. We should have a stop loss in place at 61.44though. 61.26 is the first level of resistance above 59.6963, and by rule, any test of resistance is a short signal. In this case, if resistance 61.26 is being tested, a short signal would exist.
If 59.7 begins to break higher, the technical summary data tells us to buy PWV just slightly over 59.7, with an upside target of 60.27. The data also tells us to set a stop loss @ 59.53 in case the stock turns against the trade. 59.7 is the first level of resistance above 59.6963, and by rule, any break above resistance is a buy signal. In this case, 59.7, 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 PWV if it tests 59.7 with a downside target of 59.22. We should have a stop loss in place at 59.87 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, 59.7, 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 59.7 begins to break higher, the technical summary data tells us to buy PWV just slightly over 59.7, with an upside target of 59.93. The data also tells us to set a stop loss @ 59.56 in case the stock turns against the trade. 59.7 is the first level of resistance above 59.6963, and by rule, any break above resistance is a buy signal. In this case, 59.7, 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 PWV if it tests 59.7 with a downside target of 59.22. We should have a stop loss in place at 59.84 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, 59.7, 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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The data for Invesco Dynamic Large Cap Value Etf (NYSE: PWV) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.