Trading (FXO) With Integrated Risk Controls

October 21, 2024, 22:56 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FXO

• Buy FXO near 51.54 target 53.64 stop loss @ 51.39 Details

The technical summary data tells us to buy FXO near 51.54 with an upside target of 53.64. This data also tells us to set a stop loss @ 51.39 to protect against excessive loss in case the stock begins to move against the trade. 51.54 is the first level of support below 53.3 , and by rule, any test of support is a buy signal. In this case, support 51.54 is being tested, a buy signal would exist.

• Short FXO slightly under 53.64, target 51.54, stop loss @ 53.79 Details

The technical summary data is suggesting a short of FXO as it gets near 53.64 with a downside target of 51.54. We should have a stop loss in place at 53.79though. 53.64 is the first level of resistance above 53.3, and by rule, any test of resistance is a short signal. In this case, if resistance 53.64 is being tested, a short signal would exist.

Swing Trading Plans for FXO

• Buy FXO slightly over 53.64, target 53.93, Stop Loss @ 53.49 Details

If 53.64 begins to break higher, the technical summary data tells us to buy FXO just slightly over 53.64, with an upside target of 53.93. The data also tells us to set a stop loss @ 53.49 in case the stock turns against the trade. 53.64 is the first level of resistance above 53.3, and by rule, any break above resistance is a buy signal. In this case, 53.64, 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 FXO slightly near 53.64, target 51.54, Stop Loss @ 53.79. Details

The technical summary data is suggesting a short of FXO if it tests 53.64 with a downside target of 51.54. We should have a stop loss in place at 53.79 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, 53.64, 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 FXO

• Buy FXO slightly over 53.64, target 53.93, Stop Loss @ 53.51 Details

If 53.64 begins to break higher, the technical summary data tells us to buy FXO just slightly over 53.64, with an upside target of 53.93. The data also tells us to set a stop loss @ 53.51 in case the stock turns against the trade. 53.64 is the first level of resistance above 53.3, and by rule, any break above resistance is a buy signal. In this case, 53.64, 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 FXO slightly near 53.64, target 51.54, Stop Loss @ 53.77. Details

The technical summary data is suggesting a short of FXO if it tests 53.64 with a downside target of 51.54. We should have a stop loss in place at 53.77 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, 53.64, 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 First Trust Financials Alphadex Fund (FXO) available here: FXO.

FXO Ratings for October 21:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	49.31
P2	53.59	53.93	51.54
P3	54.2	54.89	53.64

AI Generated Signals for FXO

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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 First Trust Financials Alphadex Fund (NYSE: FXO) report below can help you, but we have more details too. The trading plans for FXO, 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.