(MGRC) Trading Signals

October 01, 2024, 15:38 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MGRC

• Buy MGRC near 97.65 target 109 stop loss @ 97.37 Details

The technical summary data tells us to buy MGRC near 97.65 with an upside target of 109. This data also tells us to set a stop loss @ 97.37 to protect against excessive loss in case the stock begins to move against the trade. 97.65 is the first level of support below 106.315 , and by rule, any test of support is a buy signal. In this case, support 97.65 would be being tested, so a buy signal would exist.

• Short MGRC slightly under 109, target 97.65, stop loss @ 109.31 Details

The technical summary data is suggesting a short of MGRC as it gets near 109 with a downside target of 97.65. We should have a stop loss in place at 109.31though. 109 is the first level of resistance above 106.315, and by rule, any test of resistance is a short signal. In this case, if resistance 109 is being tested, so a short signal would exist.

Swing Trading Plans for MGRC

• Buy MGRC slightly over 109, target 112.06, Stop Loss @ 108.69 Details

If 109 begins to break higher, the technical summary data tells us to buy MGRC just slightly over 109, with an upside target of 112.06. The data also tells us to set a stop loss @ 108.69 in case the stock turns against the trade. 109 is the first level of resistance above 106.315, and by rule, any break above resistance is a buy signal. In this case, 109, 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 MGRC slightly near 109, target 105.54, Stop Loss @ 109.31. Details

The technical summary data is suggesting a short of MGRC if it tests 109 with a downside target of 105.54. We should have a stop loss in place at 109.31 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, 109, 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 MGRC

• Buy MGRC slightly over 109, target 110.22, Stop Loss @ 108.75 Details

If 109 begins to break higher, the technical summary data tells us to buy MGRC just slightly over 109, with an upside target of 110.22. The data also tells us to set a stop loss @ 108.75 in case the stock turns against the trade. 109 is the first level of resistance above 106.315, and by rule, any break above resistance is a buy signal. In this case, 109, 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 MGRC slightly near 109, target 105.69, Stop Loss @ 109.25. Details

The technical summary data is suggesting a short of MGRC if it tests 109 with a downside target of 105.69. We should have a stop loss in place at 109.25 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, 109, 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 Mcgrath Rentcorp (MGRC) available here: MGRC.

MGRC Ratings for October 01:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	97.65
P2	105.69	105.54	109
P3	110.22	112.06	119.81

AI Generated Signals for MGRC

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Trading Mcgrath Rentcorp (NASDAQ: MGRC) can be efficient and rewarding, especially in volatile markets, so long as the important pivot points for the stock are observed before making decisions to buy, sell, or short.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MGRC change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MGRC is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MGRC too.  All of these are offered below the Summary Table.