Trend Tracker for Cognex CGNX

August 15, 2022, 22:15 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

The data for Cognex (NASDAQ: CGNX) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CGNX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CGNX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CGNX too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for CGNX

• Buy CGNX slightly over 44.93 target 53.03 stop loss @ 44.8 Details

The technical summary data tells us to buy CGNX near 44.93 with an upside target of 53.03. This data also tells us to set a stop loss @ 44.8 to protect against excessive loss in case the stock begins to move against the trade. 44.93 is the first level of support below 48.56 , and by rule, any test of support is a buy signal. In this case, support 44.93 is being tested, a buy signal would exist.

• Short CGNX under 53.03, target 44.93, stop loss @ 53.18 Details

The technical summary data is suggesting a short of CGNX as it gets near 53.03 with a downside target of 44.93. We should have a stop loss in place at 53.18though. 53.03 is the first level of resistance above 48.56, and by rule, any test of resistance is a short signal. In this case, if resistance 53.03 is being tested, a short signal would exist.

Swing Trading Plans for CGNX

• Buy CGNX slightly over 53.03, target n/a, Stop Loss @ 52.88 Details

If 53.03 begins to break higher, the technical summary data tells us to buy CGNX just slightly over 53.03, with an upside target of n/a. The data also tells us to set a stop loss @ 52.88 in case the stock turns against the trade. 53.03 is the first level of resistance above 48.56, and by rule, any break above resistance is a buy signal. In this case, 53.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CGNX near 53.03, target 48.55, Stop Loss @ 53.18. Details

The technical summary data is suggesting a short of CGNX if it tests 53.03 with a downside target of 48.55. We should have a stop loss in place at 53.18 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 53.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CGNX

• Buy CGNX slightly over 49.41, target 53.03, Stop Loss @ 49.29 Details

If 49.41 begins to break higher, the technical summary data tells us to buy CGNX just slightly over 49.41, with an upside target of 53.03. The data also tells us to set a stop loss @ 49.29 in case the stock turns against the trade. 49.41 is the first level of resistance above 48.56, and by rule, any break above resistance is a buy signal. In this case, 49.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CGNX near 49.41, target 48.55, Stop Loss @ 49.53. Details

The technical summary data is suggesting a short of CGNX if it tests 49.41 with a downside target of 48.55. We should have a stop loss in place at 49.53 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 49.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

CGNX Ratings for August 15:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Weak
P1	0	0	37.24
P2	47.27	45.64	44.93
P3	49.41	48.55	53.03

Support and Resistance Plot Chart for CGNX

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