When International Game Tech (IGT) Moves Investors should Listen

September 20, 2021, 17:45 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  International Game Tech (NYSE: IGT) report below is a real world example. Included are trading plans for IGT, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for IGT

• Buy IGT slightly over 20.20 target 23.56 stop loss @ 20.14 Details

The technical summary data tells us to buy IGT near 20.20 with an upside target of 23.56. This data also tells us to set a stop loss @ 20.14 to protect against excessive loss in case the stock begins to move against the trade. 20.20 is the first level of support below 21.87 , and by rule, any test of support is a buy signal. In this case, support 20.20 would be being tested, so a buy signal would exist.

• Short IGT under 23.56, target 20.20, stop loss @ 23.63 Details

The technical summary data is suggesting a short of IGT as it gets near 23.56 with a downside target of 20.20. We should have a stop loss in place at 23.63though. 23.56 is the first level of resistance above 21.87, and by rule, any test of resistance is a short signal. In this case, if resistance 23.56 is being tested, so a short signal would exist.

Swing Trading Plans for IGT

• Buy IGT slightly over 22.40, target 23.56, Stop Loss @ 22.34 Details

If 22.40 begins to break higher, the technical summary data tells us to buy IGT just slightly over 22.40, with an upside target of 23.56. The data also tells us to set a stop loss @ 22.34 in case the stock turns against the trade. 22.40 is the first level of resistance above 21.87, and by rule, any break above resistance is a buy signal. In this case, 22.40, 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 IGT near 22.40, target 21.64, Stop Loss @ 22.46. Details

The technical summary data is suggesting a short of IGT if it tests 22.40 with a downside target of 21.64. We should have a stop loss in place at 22.46 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, 22.40, 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 IGT

• Buy IGT slightly over 22.44, target 23.56, Stop Loss @ 22.39 Details

If 22.44 begins to break higher, the technical summary data tells us to buy IGT just slightly over 22.44, with an upside target of 23.56. The data also tells us to set a stop loss @ 22.39 in case the stock turns against the trade. 22.44 is the first level of resistance above 21.87, and by rule, any break above resistance is a buy signal. In this case, 22.44, 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 IGT near 22.44, target 21.71, Stop Loss @ 22.49. Details

The technical summary data is suggesting a short of IGT if it tests 22.44 with a downside target of 21.71. We should have a stop loss in place at 22.49 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, 22.44, 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.

IGT Ratings for September 20:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	20.20
P2	21.71	21.64	23.56
P3	22.44	22.40	27.05

Support and Resistance Plot Chart for IGT

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