How the (IWM) price action is used to our Advantage
October 18, 2024, 18:58 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for IWM
- Buy IWM near 220.44 target 231.82 stop loss @ 219.8 Details
The technical summary data tells us to buy IWM near 220.44 with an upside target of 231.82. This data also tells us to set a stop loss @ 219.8 to protect against excessive loss in case the stock begins to move against the trade. 220.44 is the first level of support below 225.55 , and by rule, any test of support is a buy signal. In this case, support 220.44 is being tested, a buy signal would exist.
- Short IWM slightly under 231.82, target 220.44, stop loss @ 232.49 Details
The technical summary data is suggesting a short of IWM as it gets near 231.82 with a downside target of 220.44. We should have a stop loss in place at 232.49though. 231.82 is the first level of resistance above 225.55, and by rule, any test of resistance is a short signal. In this case, if resistance 231.82 is being tested, a short signal would exist.
Swing Trading Plans for IWM
- Buy IWM slightly over 227.5, target 231.82, Stop Loss @ 226.84 Details
If 227.5 begins to break higher, the technical summary data tells us to buy IWM just slightly over 227.5, with an upside target of 231.82. The data also tells us to set a stop loss @ 226.84 in case the stock turns against the trade. 227.5 is the first level of resistance above 225.55, and by rule, any break above resistance is a buy signal. In this case, 227.5, 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 IWM slightly near 227.5, target 223.11, Stop Loss @ 228.16. Details
The technical summary data is suggesting a short of IWM if it tests 227.5 with a downside target of 223.11. We should have a stop loss in place at 228.16 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, 227.5, 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 IWM
- Buy IWM slightly over 226.52, target 227.5, Stop Loss @ 225.99 Details
If 226.52 begins to break higher, the technical summary data tells us to buy IWM just slightly over 226.52, with an upside target of 227.5. The data also tells us to set a stop loss @ 225.99 in case the stock turns against the trade. 226.52 is the first level of resistance above 225.55, and by rule, any break above resistance is a buy signal. In this case, 226.52, 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 IWM slightly near 226.52, target 223.11, Stop Loss @ 227.05. Details
The technical summary data is suggesting a short of IWM if it tests 226.52 with a downside target of 223.11. We should have a stop loss in place at 227.05 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, 226.52, 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 Ishares Russell 2000 Etf (IWM) available here: IWM.
IWM Ratings for October 18:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
208.94 |
| P2 |
226.52 |
223.11 |
220.44 |
| P3 |
228.53 |
227.5 |
231.82 |
AI Generated Signals for IWM
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 Ishares Russell 2000 Etf (NYSE: IWM) data table below can help you with price action, and we have more details too. Trading plans for IWM 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 IWM:
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