How the (CMC) price action is used to our Advantage
June 08, 2024, 18:16 pm ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CMC
- Buy CMC slightly over 48.37 target 54.16 stop loss @ 48.23 Details
The technical summary data tells us to buy CMC near 48.37 with an upside target of 54.16. This data also tells us to set a stop loss @ 48.23 to protect against excessive loss in case the stock begins to move against the trade. 48.37 is the first level of support below 52.38 , and by rule, any test of support is a buy signal. In this case, support 48.37 would be being tested, so a buy signal would exist.
- Short CMC slightly under 54.16, target 48.37, stop loss @ 54.32 Details
The technical summary data is suggesting a short of CMC as it gets near 54.16 with a downside target of 48.37. We should have a stop loss in place at 54.32though. 54.16 is the first level of resistance above 52.38, and by rule, any test of resistance is a short signal. In this case, if resistance 54.16 is being tested, so a short signal would exist.
Swing Trading Plans for CMC
- Buy CMC slightly over 53.76, target 54.16, Stop Loss @ 53.6 Details
If 53.76 begins to break higher, the technical summary data tells us to buy CMC just slightly over 53.76, with an upside target of 54.16. The data also tells us to set a stop loss @ 53.6 in case the stock turns against the trade. 53.76 is the first level of resistance above 52.38, and by rule, any break above resistance is a buy signal. In this case, 53.76, 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 CMC slightly near 53.76, target 52.25, Stop Loss @ 53.92. Details
The technical summary data is suggesting a short of CMC if it tests 53.76 with a downside target of 52.25. We should have a stop loss in place at 53.92 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, 53.76, 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 CMC
- Buy CMC slightly over 52.71, target 53.76, Stop Loss @ 52.59 Details
If 52.71 begins to break higher, the technical summary data tells us to buy CMC just slightly over 52.71, with an upside target of 53.76. The data also tells us to set a stop loss @ 52.59 in case the stock turns against the trade. 52.71 is the first level of resistance above 52.38, and by rule, any break above resistance is a buy signal. In this case, 52.71, 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 CMC slightly near 52.71, target 52.25, Stop Loss @ 52.83. Details
The technical summary data is suggesting a short of CMC if it tests 52.71 with a downside target of 52.25. We should have a stop loss in place at 52.83 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, 52.71, 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 Commercial Metals Company (CMC) available here: CMC.
CMC Ratings for June 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
48.37 |
| P2 |
51.58 |
52.25 |
54.16 |
| P3 |
52.71 |
53.76 |
59.81 |
AI Generated Signals for CMC
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 Commercial Metals Company (NYSE: CMC) data table below can help you with price action, and we have more details too. Trading plans for CMC 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 CMC:
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