(LECO) Proactive Strategies

November 24, 2024, 06:04 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LECO

• Buy LECO near 192.02 target 218.33 stop loss @ 191.47 Details

The technical summary data tells us to buy LECO near 192.02 with an upside target of 218.33. This data also tells us to set a stop loss @ 191.47 to protect against excessive loss in case the stock begins to move against the trade. 192.02 is the first level of support below 213.52 , and by rule, any test of support is a buy signal. In this case, support 192.02 is being tested, a buy signal would exist.

• Short LECO slightly under 218.33, target 192.02, stop loss @ 218.96 Details

The technical summary data is suggesting a short of LECO as it gets near 218.33 with a downside target of 192.02. We should have a stop loss in place at 218.96though. 218.33 is the first level of resistance above 213.52, and by rule, any test of resistance is a short signal. In this case, if resistance 218.33 is being tested, a short signal would exist.

Swing Trading Plans for LECO

• Buy LECO slightly over 218.33, target n/a, Stop Loss @ 217.7 Details

If 218.33 begins to break higher, the technical summary data tells us to buy LECO just slightly over 218.33, with an upside target of n/a. The data also tells us to set a stop loss @ 217.7 in case the stock turns against the trade. 218.33 is the first level of resistance above 213.52, and by rule, any break above resistance is a buy signal. In this case, 218.33, 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 LECO slightly near 218.33, target 205.28, Stop Loss @ 218.96. Details

The technical summary data is suggesting a short of LECO if it tests 218.33 with a downside target of 205.28. We should have a stop loss in place at 218.96 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, 218.33, 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 LECO

• Buy LECO slightly over 218.33, target n/a, Stop Loss @ 217.82 Details

If 218.33 begins to break higher, the technical summary data tells us to buy LECO just slightly over 218.33, with an upside target of n/a. The data also tells us to set a stop loss @ 217.82 in case the stock turns against the trade. 218.33 is the first level of resistance above 213.52, and by rule, any break above resistance is a buy signal. In this case, 218.33, 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 LECO slightly near 218.33, target 206.73, Stop Loss @ 218.84. Details

The technical summary data is suggesting a short of LECO if it tests 218.33 with a downside target of 206.73. We should have a stop loss in place at 218.84 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, 218.33, 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 Lincoln Electric Holdings Inc. (LECO) available here: LECO.

LECO Ratings for November 24:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	166.38
P2	202.44	199.7	192.02
P3	206.73	205.28	218.33

AI Generated Signals for LECO

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Don't over think it!  Trading Lincoln Electric Holdings Inc. (NASDAQ: LECO) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LECO change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if LECO is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for LECO too.  All of these are offered below the Summary Table.