MCO was selected as the Stock of the Week

December 04, 2023, 18:55 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

The Stock of the Week (SOW) this week is Moodys (NYSE: MCO).  SOW is a strategy by Stock Traders Daily.  The Stock Correlation Filter offered by Stock Traders Daily was used to find stocks that were set to correlate with the market analysis provided by Stock Traders Daily over the weekend.  The exact filter was for swing trades, long-resistance plans, which means that the trigger would only come if resistance broke higher.  Details on the MCO call can be found by logging in or taking a trial.

• SOW is up 32% YTD.
• SOW has averaged 40.14% a year since Dec. 2007.
• SOW has a Beta of 0.13
• SOW has an Alpha of 2.12.

Longer Term Trading Plans for MCO

• Buy MCO slightly over 371.49 target n/a stop loss @ 370.42. Details

The technical summary data tells us to buy MCO near 371.49, 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 370.42 to protect against excessive loss in case the stock begins to move against the trade. 371.49 is the first level of support below 371.84, and by rule, any test of support is a buy signal. In this case, if support 371.49 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 MCO

• Buy MCO slightly over 373.24, target n/a, Stop Loss @ 372.16 Details

If 373.24 begins to break higher, the technical summary data tells us to buy MCO just slightly over 373.24, with an upside target of n/a. The data also tells us to set a stop loss @ 372.16 in case the stock turns against the trade. 373.24 is the first level of resistance above 371.84, and by rule, any break above resistance is a buy signal. In this case, 373.24, 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 MCO slightly near 373.24, target 371.49, Stop Loss @ 374.32. Details

The technical summary data is suggesting a short of MCO if it tests 373.24 with a downside target of 371.49. We should have a stop loss in place at 374.32 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, 373.24, 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 MCO

• Buy MCO slightly over 373.24, target 374.51, Stop Loss @ 372.37 Details

If 373.24 begins to break higher, the technical summary data tells us to buy MCO just slightly over 373.24, with an upside target of 374.51. The data also tells us to set a stop loss @ 372.37 in case the stock turns against the trade. 373.24 is the first level of resistance above 371.84, and by rule, any break above resistance is a buy signal. In this case, 373.24, 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 MCO slightly near 373.24, target 371.49, Stop Loss @ 374.11. Details

The technical summary data is suggesting a short of MCO if it tests 373.24 with a downside target of 371.49. We should have a stop loss in place at 374.11 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, 373.24, 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.

MCO Ratings for December 04:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	326.32
P2	369.94	365.62	349.41
P3	374.51	373.24	371.49

Support and Resistance Plot Chart for MCO

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