How the (CARS) price action is used to our Advantage
January 06, 2024, 19:40 pm ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CARS
- Buy CARS slightly over 16.98 target 18.95 stop loss @ 16.93 Details
The technical summary data tells us to buy CARS near 16.98 with an upside target of 18.95. This data also tells us to set a stop loss @ 16.93 to protect against excessive loss in case the stock begins to move against the trade. 16.98 is the first level of support below 17.16 , and by rule, any test of support is a buy signal. In this case, support 16.98 would be being tested, so a buy signal would exist.
- Short CARS slightly under 18.95, target 16.98, stop loss @ 19 Details
The technical summary data is suggesting a short of CARS as it gets near 18.95 with a downside target of 16.98. We should have a stop loss in place at 19though. 18.95 is the first level of resistance above 17.16, and by rule, any test of resistance is a short signal. In this case, if resistance 18.95 is being tested, so a short signal would exist.
Swing Trading Plans for CARS
- Buy CARS slightly over 17.24, target 18.05, Stop Loss @ 17.19 Details
If 17.24 begins to break higher, the technical summary data tells us to buy CARS just slightly over 17.24, with an upside target of 18.05. The data also tells us to set a stop loss @ 17.19 in case the stock turns against the trade. 17.24 is the first level of resistance above 17.16, and by rule, any break above resistance is a buy signal. In this case, 17.24, 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 CARS slightly near 17.24, target 16.98, Stop Loss @ 17.29. Details
The technical summary data is suggesting a short of CARS if it tests 17.24 with a downside target of 16.98. We should have a stop loss in place at 17.29 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, 17.24, 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 CARS
- Buy CARS slightly over 17.24, target 18.05, Stop Loss @ 17.2 Details
If 17.24 begins to break higher, the technical summary data tells us to buy CARS just slightly over 17.24, with an upside target of 18.05. The data also tells us to set a stop loss @ 17.2 in case the stock turns against the trade. 17.24 is the first level of resistance above 17.16, and by rule, any break above resistance is a buy signal. In this case, 17.24, 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 CARS slightly near 17.24, target 16.98, Stop Loss @ 17.28. Details
The technical summary data is suggesting a short of CARS if it tests 17.24 with a downside target of 16.98. We should have a stop loss in place at 17.28 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, 17.24, 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 Cars.com Inc. (CARS) available here: CARS.
CARS Ratings for January 06:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
16.98 |
| P2 |
16.93 |
17.24 |
18.95 |
| P3 |
17.2 |
18.05 |
20.99 |
AI Generated Signals for CARS
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Cars.com Inc. (NASDAQ: CARS) data table below can help you with price action, and we have more details too. Trading plans for CARS are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for CARS:
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