pool adsHow Stock Traders Daily uses Price Action in Invesco Dynamic Networking $PXQ to Define Opportunity and Risk
Both opportunity and risk assessments can be drawn from looking at the price action in Invesco Dynamic Networking (NYSE: PXQ). This is a practice commonly referred to as reading the charts. The summary data for PXQ below demonstrates this, and there are trading plans that help investors understand how to utilize the data too. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Strong | Strong |
| P1 | ERR | 0 | 74.82 |
| P2 | 89.54 | 81.27 | |
| P3 | 0 | 92.19 | 87.19 |
Support and Resistance Plot Chart for PXQ
Long Term Trading Plans for PXQ
February 20, 2021, 2:30 am ET
The Technical Summary and Trading Plans for PXQ 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 PXQ Report.
PXQ - (Long) Support Plan
The technical summary data tells us to buy PXQ near 87.19, 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 86.94 to protect against excessive loss in case the stock begins to move against the trade. 87.19 is the first level of support below 90.5531, and by rule, any test of support is a buy signal. In this case, if support 87.19 is being tested, a buy signal would exist.
PXQ - (Short) Resistance Plan
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.
Blue = Current Price
Red= Resistance
Green = Support
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