(IBIT) Technical Pivots with Risk Controls

December 20, 2024, 02:06 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for IBIT

• Buy IBIT near 54.21 target n/a stop loss @ 54.05. Details

The technical summary data tells us to buy IBIT near 54.21, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 54.05 to protect against excessive loss in case the stock begins to move against the trade. 54.21 is the first level of support below 54.72, and by rule, any test of support is a buy signal. In this case, if support 54.21 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for IBIT

• Buy IBIT slightly over 57.15, target 61.19, Stop Loss @ 56.98 Details

If 57.15 begins to break higher, the technical summary data tells us to buy IBIT just slightly over 57.15, with an upside target of 61.19. The data also tells us to set a stop loss @ 56.98 in case the stock turns against the trade. 57.15 is the first level of resistance above 54.72, and by rule, any break above resistance is a buy signal. In this case, 57.15, 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 IBIT slightly near 57.15, target 54.21, Stop Loss @ 57.32. Details

The technical summary data is suggesting a short of IBIT if it tests 57.15 with a downside target of 54.21. We should have a stop loss in place at 57.32 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, 57.15, 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 IBIT

• Buy IBIT slightly over 55.82, target 57.15, Stop Loss @ 55.69 Details

If 55.82 begins to break higher, the technical summary data tells us to buy IBIT just slightly over 55.82, with an upside target of 57.15. The data also tells us to set a stop loss @ 55.69 in case the stock turns against the trade. 55.82 is the first level of resistance above 54.72, and by rule, any break above resistance is a buy signal. In this case, 55.82, 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 IBIT slightly near 55.82, target 54.21, Stop Loss @ 55.95. Details

The technical summary data is suggesting a short of IBIT if it tests 55.82 with a downside target of 54.21. We should have a stop loss in place at 55.95 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, 55.82, 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.

Check the time stamp on this data. Updated AI-Generated Signals for Defiance Daily Short Digitizing The Economy Etf (IBIT) available here: IBIT.

IBIT Ratings for December 20:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	38.45
P2	55.82	57.15	45.97
P3	59.64	61.19	54.21

AI Generated Signals for IBIT

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The technical pivots for Defiance Daily Short Digitizing The Economy Etf (NASDAQ: IBIT) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for IBIT 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 IBIT 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 IBIT too.  All of these are offered below the Summary Table.