Trading Charles Schwab $SCHW With Integrated Risk Controls

April 17, 2023, 09:17 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Charles Schwab (NASDAQ: SCHW) report below can help you, but we have more details too. The trading plans for SCHW, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for SCHW

• 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 SCHW slightly under 64.89, target n/a, stop loss @ 65.08 Details

The technical summary data is suggesting a short of SCHW as it gets near 64.89, 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 65.08. 64.89 is the first level of resistance above 49, and by rule, any test of resistance is a short signal. In this case, if resistance 64.89 is being tested, so a short signal would exist.

Swing Trading Plans for SCHW

• Buy SCHW slightly over 51.92, target 64.89, Stop Loss @ 51.77 Details

If 51.92 begins to break higher, the technical summary data tells us to buy SCHW just slightly over 51.92, with an upside target of 64.89. The data also tells us to set a stop loss @ 51.77 in case the stock turns against the trade. 51.92 is the first level of resistance above 49, and by rule, any break above resistance is a buy signal. In this case, 51.92, 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 SCHW slightly near 51.92, target 48.63, Stop Loss @ 52.07. Details

The technical summary data is suggesting a short of SCHW if it tests 51.92 with a downside target of 48.63. We should have a stop loss in place at 52.07 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, 51.92, 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 SCHW

• Buy SCHW slightly over 51.47, target 51.92, Stop Loss @ 51.35 Details

If 51.47 begins to break higher, the technical summary data tells us to buy SCHW just slightly over 51.47, with an upside target of 51.92. The data also tells us to set a stop loss @ 51.35 in case the stock turns against the trade. 51.47 is the first level of resistance above 49, and by rule, any break above resistance is a buy signal. In this case, 51.47, 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 SCHW slightly near 51.47, target 48.63, Stop Loss @ 51.59. Details

The technical summary data is suggesting a short of SCHW if it tests 51.47 with a downside target of 48.63. We should have a stop loss in place at 51.59 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, 51.47, 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.

SCHW Ratings for April 17:

Term →	Near	Mid	Long
Rating	Weak	Weak	Neutral
P1	0	0	64.89
P2	51.47	48.63	74.87
P3	53.26	51.92	85.35

Support and Resistance Plot Chart for SCHW

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