Legg Mason $LM Trading Report
Source: Stock Traders Daily
The Legg Mason (NYSE: LM) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for LM, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was published, but prices change and so do support and resistance levels. Update this report, and get unlimited real time reports here Unlimited Real Time Reports.
Long Term Trading Plans for LM
July 12, 2020, 10:00 pm ET
The Technical Summary and Trading Plans for LM 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 LM Report.
LM - (Long) Support Plan
The technical summary data tells us to buy LM near 47.15 with an upside target of 50.51. This data also tells us to set a stop loss @ 46.89 to protect against excessive loss in case the stock begins to move against the trade. 47.15 is the first level of support below 49.79 , and by rule, any test of support is a buy signal. In this case, support 47.15 would be being tested, so a buy signal would exist.
LM - (Short) Resistance Plan
The technical summary data is suggesting a short of LM as it gets near 50.51 with a downside target of 47.15. We should have a stop loss in place at 50.77 though. 50.51 is the first level of resistance above 49.79, and by rule, any test of resistance is a short signal. In this case, if resistance 50.51 is being tested, so a short signal would exist.