When Watsco ($WSO) Moves Investors should Listen

October 30, 2023, 20:30 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WSO

• 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 WSO slightly under 357.15, target n/a, stop loss @ 358.18 Details

The technical summary data is suggesting a short of WSO as it gets near 357.15, 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 358.18. 357.15 is the first level of resistance above 346.28, and by rule, any test of resistance is a short signal. In this case, if resistance 357.15 is being tested, so a short signal would exist.

Swing Trading Plans for WSO

• Buy WSO slightly over 357.15, target 383.27, Stop Loss @ 356.12 Details

If 357.15 begins to break higher, the technical summary data tells us to buy WSO just slightly over 357.15, with an upside target of 383.27. The data also tells us to set a stop loss @ 356.12 in case the stock turns against the trade. 357.15 is the first level of resistance above 346.28, and by rule, any break above resistance is a buy signal. In this case, 357.15, 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 WSO slightly near 357.15, target 338.54, Stop Loss @ 358.18. Details

The technical summary data is suggesting a short of WSO if it tests 357.15 with a downside target of 338.54. We should have a stop loss in place at 358.18 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, 357.15, 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 WSO

• Buy WSO slightly over 346.58, target 357.15, Stop Loss @ 345.77 Details

If 346.58 begins to break higher, the technical summary data tells us to buy WSO just slightly over 346.58, with an upside target of 357.15. The data also tells us to set a stop loss @ 345.77 in case the stock turns against the trade. 346.58 is the first level of resistance above 346.28, and by rule, any break above resistance is a buy signal. In this case, 346.58, 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 WSO slightly near 346.58, target 340.45, Stop Loss @ 347.39. Details

The technical summary data is suggesting a short of WSO if it tests 346.58 with a downside target of 340.45. We should have a stop loss in place at 347.39 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, 346.58, 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  Watsco (WSO) available here: WSO.

WSO Ratings for October 30:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Weak
P1	0	0	357.15
P2	340.45	321.41	383.27
P3	346.58	338.54	411.76

AI Generated Signals for WSO

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Watsco (NYSE: WSO) report below is a real world example. Included are trading plans for WSO, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.