pool adsCommercial Metals $CMC Technical Update
The Commercial Metals (NYSE: CMC) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for CMC, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Weak | Neutral |
| P1 | 14.31 | 14.72 | 13.17 |
| P2 | 14.89 | 16.65 | 15.65 |
| P3 | 15.44 | 18.54 | 18.06 |
Support and Resistance Plot Chart for CMC
Long Term Trading Plans for CMC
May 24, 2019, 11:15 am ET
The Technical Summary and Trading Plans for CMC help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CMC Report.
CMC - (Long) Support Plan
The technical summary data tells us to buy CMC near 13.17 with an upside target of 15.65. This data also tells us to set a stop loss @ 12.91 to protect against excessive loss in case the stock begins to move against the trade. 13.17 is the first level of support below 15.07 , and by rule, any test of support is a buy signal. In this case, support 13.17 would be being tested, so a buy signal would exist.
CMC - (Short) Resistance Plan
The technical summary data is suggesting a short of CMC as it gets near 15.65 with a downside target of 13.17. We should have a stop loss in place at 15.91 though. 15.65 is the first level of resistance above 15.07, and by rule, any test of resistance is a short signal. In this case, if resistance 15.65 is being tested, so a short signal would exist.
