pool adsReading the Charts in Sykes Enterprises #SYKE to Generate Trading Plans
When we read the #charts for Sykes Enterprises (NASDAQ: SYKE) we are able to reach a #conclusion that may not be otherwise discernable. We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented. These are what create trading plans. The example here is for SYKE and it demonstrates this practice. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Neutral | Strong |
| P1 | 0 | 0 | 42.71 |
| P2 | 44.16 | 44.03 | 45.35 |
| P3 | 45.01 | 45.10 | 48.13 |
Support and Resistance Plot Chart for SYKE
Long Term Trading Plans for SYKE
April 29, 2021, 11:45 am ET
The Technical Summary and Trading Plans for SYKE 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 SYKE Report.
SYKE - (Long) Support Plan
The technical summary data tells us to buy SYKE near 42.71 with an upside target of 45.35. This data also tells us to set a stop loss @ 42.59 to protect against excessive loss in case the stock begins to move against the trade. 42.71 is the first level of support below 44.35 , and by rule, any test of support is a buy signal. In this case, support 42.71 would be being tested, so a buy signal would exist.
SYKE - (Short) Resistance Plan
The technical summary data is suggesting a short of SYKE as it gets near 45.35 with a downside target of 42.71. We should have a stop loss in place at 45.48though. 45.35 is the first level of resistance above 44.35, and by rule, any test of resistance is a short signal. In this case, if resistance 45.35 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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