How the price action of Analog Devices ($ADI) is used to our Advantage
October 03, 2023, 23:45 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ADI
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short ADI slightly under 177.96, target n/a, stop loss @ 178.47 Details
The technical summary data is suggesting a short of ADI as it gets near 177.96, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 178.47. 177.96 is the first level of resistance above 171.51, and by rule, any test of resistance is a short signal. In this case, if resistance 177.96 is being tested, so a short signal would exist.
Swing Trading Plans for ADI
- Buy ADI slightly over 175.08, target 177.96, Stop Loss @ 174.57 Details
If 175.08 begins to break higher, the technical summary data tells us to buy ADI just slightly over 175.08, with an upside target of 177.96. The data also tells us to set a stop loss @ 174.57 in case the stock turns against the trade. 175.08 is the first level of resistance above 171.51, and by rule, any break above resistance is a buy signal. In this case, 175.08, 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 ADI slightly near 175.08, target 170.49, Stop Loss @ 175.59. Details
The technical summary data is suggesting a short of ADI if it tests 175.08 with a downside target of 170.49. We should have a stop loss in place at 175.59 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, 175.08, 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 ADI
- Buy ADI slightly over 172.39, target 175.08, Stop Loss @ 171.99 Details
If 172.39 begins to break higher, the technical summary data tells us to buy ADI just slightly over 172.39, with an upside target of 175.08. The data also tells us to set a stop loss @ 171.99 in case the stock turns against the trade. 172.39 is the first level of resistance above 171.51, and by rule, any break above resistance is a buy signal. In this case, 172.39, 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 ADI slightly near 172.39, target 170.49, Stop Loss @ 172.79. Details
The technical summary data is suggesting a short of ADI if it tests 172.39 with a downside target of 170.49. We should have a stop loss in place at 172.79 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, 172.39, 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 Analog Devices (ADI) available here: ADI.
ADI Ratings for October 03:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Strong |
| P1 |
0 |
0 |
177.96 |
| P2 |
172.39 |
170.49 |
192.82 |
| P3 |
176.55 |
175.08 |
208.08 |
AI Generated Signals for ADI
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 Analog Devices (NYSE: ADI) data table below can help you with price action, and we have more details too. Trading plans for ADI 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 ADI:
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