(FUTU) Trading Report

November 23, 2024, 05:10 am ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FUTU

• Buy FUTU near 70.96 target 86.98 stop loss @ 70.76 Details

The technical summary data tells us to buy FUTU near 70.96 with an upside target of 86.98. This data also tells us to set a stop loss @ 70.76 to protect against excessive loss in case the stock begins to move against the trade. 70.96 is the first level of support below 84.22 , and by rule, any test of support is a buy signal. In this case, support 70.96 would be being tested, so a buy signal would exist.

• Short FUTU slightly under 86.98, target 70.96, stop loss @ 87.23 Details

The technical summary data is suggesting a short of FUTU as it gets near 86.98 with a downside target of 70.96. We should have a stop loss in place at 87.23though. 86.98 is the first level of resistance above 84.22, and by rule, any test of resistance is a short signal. In this case, if resistance 86.98 is being tested, so a short signal would exist.

Swing Trading Plans for FUTU

• Buy FUTU slightly over 86.98, target 89.44, Stop Loss @ 86.73 Details

If 86.98 begins to break higher, the technical summary data tells us to buy FUTU just slightly over 86.98, with an upside target of 89.44. The data also tells us to set a stop loss @ 86.73 in case the stock turns against the trade. 86.98 is the first level of resistance above 84.22, and by rule, any break above resistance is a buy signal. In this case, 86.98, 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 FUTU slightly near 86.98, target 81.48, Stop Loss @ 87.23. Details

The technical summary data is suggesting a short of FUTU if it tests 86.98 with a downside target of 81.48. We should have a stop loss in place at 87.23 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, 86.98, 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 FUTU

• Buy FUTU slightly over 84.38, target 86.98, Stop Loss @ 84.18 Details

If 84.38 begins to break higher, the technical summary data tells us to buy FUTU just slightly over 84.38, with an upside target of 86.98. The data also tells us to set a stop loss @ 84.18 in case the stock turns against the trade. 84.38 is the first level of resistance above 84.22, and by rule, any break above resistance is a buy signal. In this case, 84.38, 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 FUTU slightly near 84.38, target 81.48, Stop Loss @ 84.58. Details

The technical summary data is suggesting a short of FUTU if it tests 84.38 with a downside target of 81.48. We should have a stop loss in place at 84.58 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, 84.38, 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 Futu Holdings Limited (FUTU) available here: FUTU.

FUTU Ratings for November 23:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	70.96
P2	84.38	81.48	86.98
P3	88.63	89.44	107.12

AI Generated Signals for FUTU

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Futu Holdings Limited (NASDAQ: FUTU) while incorporating prudent risk controls. 

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FUTU 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 FUTU 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 FUTU too.  All of these are offered below the Summary Table.