![]() We should have a stop loss in place at 1.07 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of WKHS if it tests 1.07 with a downside target of n/a. ![]() Short WKHS slightly near 1.07, target n/a, Stop Loss 1.07.Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. ![]() In this case, 1.07, initial resistance, would be breaking higher, so a buy signal would exist. 1.07 is the first level of resistance above 1.01, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 1.07 in case the stock turns against the trade. If 1.07 begins to break higher, the technical summary data tells us to buy WKHS just slightly over 1.07, with an upside target of 1.48. Buy WKHS slightly over 1.07, target 1.48, Stop Loss 1.07 Details.In this case, if resistance 1.48 is being tested, so a short signal would exist. 1.48 is the first level of resistance above 1.01, and by rule, any test of resistance is a short signal. The summary data tells us to have a stop loss in place at 1.48. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The technical summary data is suggesting a short of WKHS as it gets near 1.48, but the downside target is not available from the current data. Short WKHS slightly under 1.48, target n/a, stop loss 1.48 Details.In any case, new support levels are usually revised to the database at the beginning of the next trading session. ![]() Waiting for a turn higher may be more intelligent than trying to catch a falling knife. This often is a signal that the stock you are watching is weak. Buy signals only exist if resistance breaks higher. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. There is no current Support Plan to trigger a buy of this stock at this time. ![]()
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