Long Term Trading Analysis for (BF.B)

November 16, 2024, 20:02 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for BF.B

• Buy BF.B near 38.37 target 42.29 stop loss @ 38.26 Details

The technical summary data tells us to buy BF.B near 38.37 with an upside target of 42.29. This data also tells us to set a stop loss @ 38.26 to protect against excessive loss in case the stock begins to move against the trade. 38.37 is the first level of support below 40.8 , and by rule, any test of support is a buy signal. In this case, support 38.37 would be being tested, so a buy signal would exist.

• Short BF.B slightly under 42.29, target 38.37, stop loss @ 42.41 Details

The technical summary data is suggesting a short of BF.B as it gets near 42.29 with a downside target of 38.37. We should have a stop loss in place at 42.41though. 42.29 is the first level of resistance above 40.8, and by rule, any test of resistance is a short signal. In this case, if resistance 42.29 is being tested, so a short signal would exist.

Swing Trading Plans for BF.B

• Buy BF.B slightly over 42.29, target 46.48, Stop Loss @ 42.17 Details

If 42.29 begins to break higher, the technical summary data tells us to buy BF.B just slightly over 42.29, with an upside target of 46.48. The data also tells us to set a stop loss @ 42.17 in case the stock turns against the trade. 42.29 is the first level of resistance above 40.8, and by rule, any break above resistance is a buy signal. In this case, 42.29, 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 BF.B slightly near 42.29, target 40.54, Stop Loss @ 42.41. Details

The technical summary data is suggesting a short of BF.B if it tests 42.29 with a downside target of 40.54. We should have a stop loss in place at 42.41 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, 42.29, 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 BF.B

• Buy BF.B slightly over 41.12, target 42.29, Stop Loss @ 41.02 Details

If 41.12 begins to break higher, the technical summary data tells us to buy BF.B just slightly over 41.12, with an upside target of 42.29. The data also tells us to set a stop loss @ 41.02 in case the stock turns against the trade. 41.12 is the first level of resistance above 40.8, and by rule, any break above resistance is a buy signal. In this case, 41.12, 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 BF.B slightly near 41.12, target 40.54, Stop Loss @ 41.22. Details

The technical summary data is suggesting a short of BF.B if it tests 41.12 with a downside target of 40.54. We should have a stop loss in place at 41.22 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, 41.12, 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 Brown Forman Inc Class B (BF.B) available here: BF.B.

BF.B Ratings for November 16:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Weak
P1	0	0	38.37
P2	40.44	39.08	42.29
P3	41.12	40.54	46.48

AI Generated Signals for BF.B

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Brown Forman Inc Class B (NASDAQ: BF.B) while incorporating prudent risk controls.

Warning:

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

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if BF.B 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 BF.B too.  All of these are offered below the Summary Table.