pool adsSonoco Products $SON Technical Update
The Sonoco Products (NYSE: SON) 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 SON, 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 | Neutral | Neutral | Neutral |
| P1 | 55.60 | 50.62 | 53.23 |
| P2 | 55.96 | 54.24 | 57.09 |
| P3 | 56.69 | 57.66 | 60.74 |
Support and Resistance Plot Chart for SON
Long Term Trading Plans for SON
November 15, 2018, 4:45 pm ET
The Technical Summary and Trading Plans for SON 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 SON Report.
SON - (Long) Support Plan
Buy over 53.23 target 57.09 stop loss @ 52.97.
The technical summary data tells us to buy SON near 53.23 with an upside target of 57.09. This data also tells us to set a stop loss @ 52.97 to protect against excessive loss in case the stock begins to move against the trade. 53.23 is the first level of support below 56.61 , and by rule, any test of support is a buy signal. In this case, support 53.23 would be being tested, so a buy signal would exist.
SON - (Short) Resistance Plan
Short under 57.09 target 53.23 stop loss @ 57.35.
The technical summary data is suggesting a short of SON as it gets near 57.09 with a downside target of 53.23. We should have a stop loss in place at 57.35 though. 57.09 is the first level of resistance above 56.61, and by rule, any test of resistance is a short signal. In this case, if resistance 57.09 is being tested, so a short signal would exist.
