Quanex Building Products $NX Technical Update
The Quanex Building Products (NYSE: NX) 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 NX, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for NX
June 26, 2019, 11:15 pm ET
The Technical Summary and Trading Plans for NX 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 NX Report.
NX - (Long) Support Plan
The technical summary data tells us to buy NX near 16.89 with an upside target of 19.02. This data also tells us to set a stop loss @ 16.63 to protect against excessive loss in case the stock begins to move against the trade. 16.89 is the first level of support below 18.09 , and by rule, any test of support is a buy signal. In this case, support 16.89 is being tested, a buy signal would exist.
NX - (Short) Resistance Plan
The technical summary data is suggesting a short of NX as it gets near 19.02 with a downside target of 16.89. We should have a stop loss in place at 19.28 though. 19.02 is the first level of resistance above 18.09, and by rule, any test of resistance is a short signal. In this case, if resistance 19.02 is being tested, a short signal would exist.