Meritage Homes $MTH Proactive Strategies

November 06, 2023, 04:00 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MTH

• Buy MTH slightly over 123.70 target 140.05 stop loss @ 123.34 Details

The technical summary data tells us to buy MTH near 123.70 with an upside target of 140.05. This data also tells us to set a stop loss @ 123.34 to protect against excessive loss in case the stock begins to move against the trade. 123.70 is the first level of support below 133.42 , and by rule, any test of support is a buy signal. In this case, support 123.70 would be being tested, so a buy signal would exist.

• Short MTH slightly under 140.05, target 123.70, stop loss @ 140.45 Details

The technical summary data is suggesting a short of MTH as it gets near 140.05 with a downside target of 123.70. We should have a stop loss in place at 140.45though. 140.05 is the first level of resistance above 133.42, and by rule, any test of resistance is a short signal. In this case, if resistance 140.05 is being tested, so a short signal would exist.

Swing Trading Plans for MTH

• Buy MTH slightly over 140.05, target 156.81, Stop Loss @ 139.65 Details

If 140.05 begins to break higher, the technical summary data tells us to buy MTH just slightly over 140.05, with an upside target of 156.81. The data also tells us to set a stop loss @ 139.65 in case the stock turns against the trade. 140.05 is the first level of resistance above 133.42, and by rule, any break above resistance is a buy signal. In this case, 140.05, 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 MTH slightly near 140.05, target 128.95, Stop Loss @ 140.45. Details

The technical summary data is suggesting a short of MTH if it tests 140.05 with a downside target of 128.95. We should have a stop loss in place at 140.45 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, 140.05, 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 MTH

• Buy MTH slightly over 135.49, target 140.05, Stop Loss @ 135.17 Details

If 135.49 begins to break higher, the technical summary data tells us to buy MTH just slightly over 135.49, with an upside target of 140.05. The data also tells us to set a stop loss @ 135.17 in case the stock turns against the trade. 135.49 is the first level of resistance above 133.42, and by rule, any break above resistance is a buy signal. In this case, 135.49, 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 MTH slightly near 135.49, target 128.95, Stop Loss @ 135.81. Details

The technical summary data is suggesting a short of MTH if it tests 135.49 with a downside target of 128.95. We should have a stop loss in place at 135.81 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, 135.49, 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 Meritage Homes (MTH) available here: MTH.

MTH Ratings for November 06:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	123.70
P2	128.60	118.09	140.05
P3	135.49	128.95	156.81

AI Generated Signals for MTH

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Don't over think it!  Trading Meritage Homes (NYSE: MTH) 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 MTH 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 MTH 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 MTH too.  All of these are offered below the Summary Table.