How the (DJI) price action is used to our Advantage
February 27, 2024, 18:24 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for DJI
- Buy DJI slightly over 38758.23 target n/a stop loss @ 38646.3. Details
The technical summary data tells us to buy DJI near 38758.23, 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 38646.3 to protect against excessive loss in case the stock begins to move against the trade. 38758.23 is the first level of support below 38972.4, and by rule, any test of support is a buy signal. In this case, if support 38758.23 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 DJI
- Buy DJI slightly over 39289.59, target n/a, Stop Loss @ 39176.12 Details
If 39289.59 begins to break higher, the technical summary data tells us to buy DJI just slightly over 39289.59, with an upside target of n/a. The data also tells us to set a stop loss @ 39176.12 in case the stock turns against the trade. 39289.59 is the first level of resistance above 38972.4, and by rule, any break above resistance is a buy signal. In this case, 39289.59, 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 DJI slightly near 39289.59, target 38772.05, Stop Loss @ 39403.06. Details
The technical summary data is suggesting a short of DJI if it tests 39289.59 with a downside target of 38772.05. We should have a stop loss in place at 39403.06 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, 39289.59, 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 DJI
- Buy DJI slightly over 38979.98, target 39289.59, Stop Loss @ 38889.04 Details
If 38979.98 begins to break higher, the technical summary data tells us to buy DJI just slightly over 38979.98, with an upside target of 39289.59. The data also tells us to set a stop loss @ 38889.04 in case the stock turns against the trade. 38979.98 is the first level of resistance above 38972.4, and by rule, any break above resistance is a buy signal. In this case, 38979.98, 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 DJI slightly near 38979.98, target 38772.05, Stop Loss @ 39070.92. Details
The technical summary data is suggesting a short of DJI if it tests 38979.98 with a downside target of 38772.05. We should have a stop loss in place at 39070.92 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, 38979.98, 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 Dow Jones Industrial Average (DJI) available here: DJI.
DJI Ratings for February 27:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
36091.49 |
| P2 |
38979.98 |
38772.05 |
37470.81 |
| P3 |
39410.38 |
39289.59 |
38758.23 |
AI Generated Signals for DJI
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Dow Jones Industrial Average (NYSE: DJI) data table below can help you with price action, and we have more details too. Trading plans for DJI are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for DJI:
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