Trading (WIRE) With Integrated Risk Controls

December 29, 2023, 17:15 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WIRE

• Buy WIRE slightly over 209.64 target n/a stop loss @ 209.03. Details

The technical summary data tells us to buy WIRE near 209.64, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 209.03 to protect against excessive loss in case the stock begins to move against the trade. 209.64 is the first level of support below 213.6, and by rule, any test of support is a buy signal. In this case, if support 209.64 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for WIRE

• Buy WIRE slightly over 215.68, target 226.7, Stop Loss @ 215.06 Details

If 215.68 begins to break higher, the technical summary data tells us to buy WIRE just slightly over 215.68, with an upside target of 226.7. The data also tells us to set a stop loss @ 215.06 in case the stock turns against the trade. 215.68 is the first level of resistance above 213.6, and by rule, any break above resistance is a buy signal. In this case, 215.68, 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 WIRE slightly near 215.68, target 209.64, Stop Loss @ 216.3. Details

The technical summary data is suggesting a short of WIRE if it tests 215.68 with a downside target of 209.64. We should have a stop loss in place at 216.3 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, 215.68, 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 WIRE

• Buy WIRE slightly over 213.69, target 215.68, Stop Loss @ 213.19 Details

If 213.69 begins to break higher, the technical summary data tells us to buy WIRE just slightly over 213.69, with an upside target of 215.68. The data also tells us to set a stop loss @ 213.19 in case the stock turns against the trade. 213.69 is the first level of resistance above 213.6, and by rule, any break above resistance is a buy signal. In this case, 213.69, 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 WIRE slightly near 213.69, target 209.64, Stop Loss @ 214.19. Details

The technical summary data is suggesting a short of WIRE if it tests 213.69 with a downside target of 209.64. We should have a stop loss in place at 214.19 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, 213.69, 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 Encore Wire Corporation (WIRE) available here: WIRE.

WIRE Ratings for December 29:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	170.83
P2	213.69	215.68	189.45
P3	216.55	226.7	209.64

AI Generated Signals for WIRE

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Encore Wire Corporation (NASDAQ: WIRE) report below can help you, but we have more details too. The trading plans for WIRE, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.