Scotts Miracle Gro $SMG Technical Update
The Scotts Miracle Gro (NYSE: SMG) 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 SMG, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
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Long Term Trading Plans for SMG
October 12, 2018, 10:00 am ET
The Technical Summary and Trading Plans for SMG 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 SMG Report.
SMG - (Long) Support Plan
Buy over 67.87 target 75.24 stop loss @ 67.61.
The technical summary data tells us to buy SMG near 67.87 with an upside target of 75.24. This data also tells us to set a stop loss @ 67.61 to protect against excessive loss in case the stock begins to move against the trade. 67.87 is the first level of support below 73.24 , and by rule, any test of support is a buy signal. In this case, support 67.87 would be being tested, so a buy signal would exist.
SMG - (Short) Resistance Plan
Short under 75.24 target 67.87 stop loss @ 75.5.
The technical summary data is suggesting a short of SMG as it gets near 75.24 with a downside target of 67.87. We should have a stop loss in place at 75.5 though. 75.24 is the first level of resistance above 73.24, and by rule, any test of resistance is a short signal. In this case, if resistance 75.24 is being tested, so a short signal would exist.