How the price action of Array Technologies Inc. ($ARRY) is used to our Advantage
November 22, 2023, 08:30 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ARRY
- 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 ARRY slightly under 16.47, target n/a, stop loss @ 16.52 Details
The technical summary data is suggesting a short of ARRY as it gets near 16.47, 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 16.52. 16.47 is the first level of resistance above 15.26, and by rule, any test of resistance is a short signal. In this case, if resistance 16.47 is being tested, so a short signal would exist.
Swing Trading Plans for ARRY
- Buy ARRY slightly over 16.06, target 16.47, Stop Loss @ 16.01 Details
If 16.06 begins to break higher, the technical summary data tells us to buy ARRY just slightly over 16.06, with an upside target of 16.47. The data also tells us to set a stop loss @ 16.01 in case the stock turns against the trade. 16.06 is the first level of resistance above 15.26, and by rule, any break above resistance is a buy signal. In this case, 16.06, 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 ARRY slightly near 16.06, target 13.46, Stop Loss @ 16.11. Details
The technical summary data is suggesting a short of ARRY if it tests 16.06 with a downside target of 13.46. We should have a stop loss in place at 16.11 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, 16.06, 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 ARRY
- Buy ARRY slightly over 15.73, target 16.06, Stop Loss @ 15.69 Details
If 15.73 begins to break higher, the technical summary data tells us to buy ARRY just slightly over 15.73, with an upside target of 16.06. The data also tells us to set a stop loss @ 15.69 in case the stock turns against the trade. 15.73 is the first level of resistance above 15.26, and by rule, any break above resistance is a buy signal. In this case, 15.73, 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 ARRY slightly near 15.73, target 15.09, Stop Loss @ 15.77. Details
The technical summary data is suggesting a short of ARRY if it tests 15.73 with a downside target of 15.09. We should have a stop loss in place at 15.77 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, 15.73, 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 Array Technologies Inc. (ARRY) available here: ARRY.
ARRY Ratings for November 22:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Neutral |
| P1 |
0 |
0 |
16.47 |
| P2 |
15.09 |
13.46 |
20.02 |
| P3 |
15.73 |
16.06 |
23.49 |
AI Generated Signals for ARRY
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 Array Technologies Inc. (NASDAQ: ARRY) data table below can help you with price action, and we have more details too. Trading plans for ARRY 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 ARRY:
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