How the price action of Cmc Materials Inc (CCMP) is used to our Advantage

June 24, 2022, 16:00 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

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  Cmc Materials Inc (NASDAQ: CCMP) data table below can help you with price action, and we have more details too. Trading plans for CCMP 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.

Longer Term Trading Plans for CCMP

• Buy CCMP slightly over 167.71 target 187.53 stop loss @ 167.23 Details

The technical summary data tells us to buy CCMP near 167.71 with an upside target of 187.53. This data also tells us to set a stop loss @ 167.23 to protect against excessive loss in case the stock begins to move against the trade. 167.71 is the first level of support below 179.45 , and by rule, any test of support is a buy signal. In this case, support 167.71 would be being tested, so a buy signal would exist.

• Short CCMP under 187.53, target 167.71, stop loss @ 188.07 Details

The technical summary data is suggesting a short of CCMP as it gets near 187.53 with a downside target of 167.71. We should have a stop loss in place at 188.07though. 187.53 is the first level of resistance above 179.45, and by rule, any test of resistance is a short signal. In this case, if resistance 187.53 is being tested, so a short signal would exist.

Swing Trading Plans for CCMP

• Buy CCMP slightly over 187.53, target 207.26, Stop Loss @ 186.99 Details

If 187.53 begins to break higher, the technical summary data tells us to buy CCMP just slightly over 187.53, with an upside target of 207.26. The data also tells us to set a stop loss @ 186.99 in case the stock turns against the trade. 187.53 is the first level of resistance above 179.45, and by rule, any break above resistance is a buy signal. In this case, 187.53, 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 CCMP near 187.53, target 174.31, Stop Loss @ 188.07. Details

The technical summary data is suggesting a short of CCMP if it tests 187.53 with a downside target of 174.31. We should have a stop loss in place at 188.07 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, 187.53, 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 CCMP

• Buy CCMP slightly over 187.53, target 207.26, Stop Loss @ 187.09 Details

If 187.53 begins to break higher, the technical summary data tells us to buy CCMP just slightly over 187.53, with an upside target of 207.26. The data also tells us to set a stop loss @ 187.09 in case the stock turns against the trade. 187.53 is the first level of resistance above 179.45, and by rule, any break above resistance is a buy signal. In this case, 187.53, 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 CCMP near 187.53, target 174.68, Stop Loss @ 187.97. Details

The technical summary data is suggesting a short of CCMP if it tests 187.53 with a downside target of 174.68. We should have a stop loss in place at 187.97 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, 187.53, 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.

CCMP Ratings for June 24:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	167.71
P2	172.77	170.89	187.53
P3	174.68	174.31	207.26

Support and Resistance Plot Chart for CCMP

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.