pool adsSothebys $BID Technical Update
The Sothebys (NYSE: BID) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for BID, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Weak | Neutral |
| P1 | 36.98 | 34.80 | 31.97 |
| P2 | 37.77 | 39.47 | 38.01 |
| P3 | 38.56 | 44.24 | 43.95 |
Support and Resistance Plot Chart for BID
Long Term Trading Plans for BID
May 23, 2019, 5:45 pm ET
The Technical Summary and Trading Plans for BID 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 BID Report.
BID - (Long) Support Plan
The technical summary data tells us to buy BID near 31.97 with an upside target of 38.01. This data also tells us to set a stop loss @ 31.71 to protect against excessive loss in case the stock begins to move against the trade. 31.97 is the first level of support below 37.39 , and by rule, any test of support is a buy signal. In this case, support 31.97 would be being tested, so a buy signal would exist.
BID - (Short) Resistance Plan
The technical summary data is suggesting a short of BID as it gets near 38.01 with a downside target of 31.97. We should have a stop loss in place at 38.27 though. 38.01 is the first level of resistance above 37.39, and by rule, any test of resistance is a short signal. In this case, if resistance 38.01 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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