The technical summary data is suggesting a short of IEMG as it gets near 58.12 with a downside target of 56.29. We should have a stop loss in place at 58.29though. 58.12 is the first level of resistance above 56.765, and by rule, any test of resistance is a short signal. In this case, if resistance 58.12 is being tested, a short signal would exist.

If 57.16 begins to break higher, the technical summary data tells us to buy IEMG just slightly over 57.16, with an upside target of 58.12. The data also tells us to set a stop loss @ 56.99 in case the stock turns against the trade. 57.16 is the first level of resistance above 56.765, and by rule, any break above resistance is a buy signal. In this case, 57.16, 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 IEMG if it tests 57.16 with a downside target of 56.29. We should have a stop loss in place at 57.33 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, 57.16, 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.