pool adsWhat investors think about Dycom Industries $DY from here
Investors speak with their pocketbooks, this is reflected in the price of equities, and if we pay attention we can tell what they are saying. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Dycom Industries (NYSE: DY) report below can help you, but we have more details too. The trading plans for DY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Neutral | Strong |
| P1 | 0 | 0 | 42.28 |
| P2 | 60.74 | 65.68 | 56.99 |
| P3 | 67.77 | 73.33 | 71.41 |
Support and Resistance Plot Chart for DY
Long Term Trading Plans for DY
November 28, 2020, 1:30 pm ET
The Technical Summary and Trading Plans for DY 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 DY Report.
DY - (Long) Support Plan
The technical summary data tells us to buy DY near 56.99 with an upside target of 71.41. This data also tells us to set a stop loss @ 56.83 to protect against excessive loss in case the stock begins to move against the trade. 56.99 is the first level of support below 63.04 , and by rule, any test of support is a buy signal. In this case, support 56.99 is being tested, a buy signal would exist.
DY - (Short) Resistance Plan
The technical summary data is suggesting a short of DY as it gets near 71.41 with a downside target of 56.99. We should have a stop loss in place at 71.62 though. 71.41 is the first level of resistance above 63.04, and by rule, any test of resistance is a short signal. In this case, if resistance 71.41 is being tested, a short signal would exist.
