How the price action of Charles Schwab ($SCHW) is used to our Advantage
March 21, 2023, 11:00 am ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SCHW
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short SCHW slightly under 63.99, target n/a, stop loss @ 64.17 Details
The technical summary data is suggesting a short of SCHW as it gets near 63.99, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 64.17. 63.99 is the first level of resistance above 58.28, and by rule, any test of resistance is a short signal. In this case, if resistance 63.99 is being tested, so a short signal would exist.
Swing Trading Plans for SCHW
- Buy SCHW slightly over 63.99, target 74.10, Stop Loss @ 63.81 Details
If 63.99 begins to break higher, the technical summary data tells us to buy SCHW just slightly over 63.99, with an upside target of 74.10. The data also tells us to set a stop loss @ 63.81 in case the stock turns against the trade. 63.99 is the first level of resistance above 58.28, and by rule, any break above resistance is a buy signal. In this case, 63.99, 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 SCHW slightly near 63.99, target 56.09, Stop Loss @ 64.17. Details
The technical summary data is suggesting a short of SCHW if it tests 63.99 with a downside target of 56.09. We should have a stop loss in place at 64.17 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, 63.99, 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 SCHW
- Buy SCHW slightly over 58.75, target 63.99, Stop Loss @ 58.61 Details
If 58.75 begins to break higher, the technical summary data tells us to buy SCHW just slightly over 58.75, with an upside target of 63.99. The data also tells us to set a stop loss @ 58.61 in case the stock turns against the trade. 58.75 is the first level of resistance above 58.28, and by rule, any break above resistance is a buy signal. In this case, 58.75, 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 SCHW slightly near 58.75, target 56.09, Stop Loss @ 58.89. Details
The technical summary data is suggesting a short of SCHW if it tests 58.75 with a downside target of 56.09. We should have a stop loss in place at 58.89 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, 58.75, 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.
Real Time Updates are available on our Charles Schwab (SCHW) Page here: SCHW.
SCHW Ratings for March 21:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
63.99 |
| P2 |
55.35 |
45.15 |
74.10 |
| P3 |
58.75 |
56.09 |
84.66 |
Support and Resistance Plot Chart for SCHW
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 Charles Schwab (NASDAQ: SCHW) data table below can help you with price action, and we have more details too. Trading plans for SCHW 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 SCHW:
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