How the (ESTC) price action is used to our Advantage
May 20, 2024, 18:46 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ESTC
- Buy ESTC slightly over 102.3 target 118.72 stop loss @ 102 Details
The technical summary data tells us to buy ESTC near 102.3 with an upside target of 118.72. This data also tells us to set a stop loss @ 102 to protect against excessive loss in case the stock begins to move against the trade. 102.3 is the first level of support below 110.66 , and by rule, any test of support is a buy signal. In this case, support 102.3 would be being tested, so a buy signal would exist.
- Short ESTC slightly under 118.72, target 102.3, stop loss @ 119.06 Details
The technical summary data is suggesting a short of ESTC as it gets near 118.72 with a downside target of 102.3. We should have a stop loss in place at 119.06though. 118.72 is the first level of resistance above 110.66, and by rule, any test of resistance is a short signal. In this case, if resistance 118.72 is being tested, so a short signal would exist.
Swing Trading Plans for ESTC
- Buy ESTC slightly over 111.57, target 118.72, Stop Loss @ 111.25 Details
If 111.57 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 111.57, with an upside target of 118.72. The data also tells us to set a stop loss @ 111.25 in case the stock turns against the trade. 111.57 is the first level of resistance above 110.66, and by rule, any break above resistance is a buy signal. In this case, 111.57, 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 ESTC slightly near 111.57, target 108.38, Stop Loss @ 111.89. Details
The technical summary data is suggesting a short of ESTC if it tests 111.57 with a downside target of 108.38. We should have a stop loss in place at 111.89 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, 111.57, 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 ESTC
- Buy ESTC slightly over 110.8, target 111.57, Stop Loss @ 110.54 Details
If 110.8 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 110.8, with an upside target of 111.57. The data also tells us to set a stop loss @ 110.54 in case the stock turns against the trade. 110.8 is the first level of resistance above 110.66, and by rule, any break above resistance is a buy signal. In this case, 110.8, 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 ESTC slightly near 110.8, target 108.57, Stop Loss @ 111.06. Details
The technical summary data is suggesting a short of ESTC if it tests 110.8 with a downside target of 108.57. We should have a stop loss in place at 111.06 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, 110.8, 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 Elastic N.v. (ESTC) available here: ESTC.
ESTC Ratings for May 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
102.3 |
| P2 |
108.57 |
108.38 |
118.72 |
| P3 |
110.8 |
111.57 |
137.15 |
AI Generated Signals for ESTC
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 Elastic N.v. (NASDAQ: ESTC) data table below can help you with price action, and we have more details too. Trading plans for ESTC 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 ESTC:
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