Commercial Metals $CMC Investment Analysis

November 12, 2023, 10:45 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CMC

• Buy CMC slightly over 43.68 target 49.55 stop loss @ 43.55 Details

The technical summary data tells us to buy CMC near 43.68 with an upside target of 49.55. This data also tells us to set a stop loss @ 43.55 to protect against excessive loss in case the stock begins to move against the trade. 43.68 is the first level of support below 45.18 , and by rule, any test of support is a buy signal. In this case, support 43.68 would be being tested, so a buy signal would exist.

• Short CMC slightly under 49.55, target 43.68, stop loss @ 49.69 Details

The technical summary data is suggesting a short of CMC as it gets near 49.55 with a downside target of 43.68. We should have a stop loss in place at 49.69though. 49.55 is the first level of resistance above 45.18, and by rule, any test of resistance is a short signal. In this case, if resistance 49.55 is being tested, so a short signal would exist.

Swing Trading Plans for CMC

• Buy CMC slightly over 47.27, target 49.55, Stop Loss @ 47.13 Details

If 47.27 begins to break higher, the technical summary data tells us to buy CMC just slightly over 47.27, with an upside target of 49.55. The data also tells us to set a stop loss @ 47.13 in case the stock turns against the trade. 47.27 is the first level of resistance above 45.18, and by rule, any break above resistance is a buy signal. In this case, 47.27, 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 CMC slightly near 47.27, target 43.68, Stop Loss @ 47.41. Details

The technical summary data is suggesting a short of CMC if it tests 47.27 with a downside target of 43.68. We should have a stop loss in place at 47.41 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, 47.27, 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 CMC

• Buy CMC slightly over 45.43, target 47.27, Stop Loss @ 45.32 Details

If 45.43 begins to break higher, the technical summary data tells us to buy CMC just slightly over 45.43, with an upside target of 47.27. The data also tells us to set a stop loss @ 45.32 in case the stock turns against the trade. 45.43 is the first level of resistance above 45.18, and by rule, any break above resistance is a buy signal. In this case, 45.43, 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 CMC slightly near 45.43, target 44.87, Stop Loss @ 45.54. Details

The technical summary data is suggesting a short of CMC if it tests 45.43 with a downside target of 44.87. We should have a stop loss in place at 45.54 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, 45.43, 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 Commercial Metals (CMC) available here: CMC.

CMC Ratings for November 12:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Neutral
P1	0	0	43.68
P2	44.87	47.27	49.55
P3	45.43		55.45

AI Generated Signals for CMC

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With an objective approach to Commercial Metals (NYSE: CMC), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CMC 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 CMC 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 CMC too.  All of these are offered below the Summary Table.