Learn to Evaluate (BECN) using the Charts
February 29, 2024, 07:14 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for BECN
- Buy BECN slightly over 79.86 target 88.35 stop loss @ 79.63 Details
The technical summary data tells us to buy BECN near 79.86 with an upside target of 88.35. This data also tells us to set a stop loss @ 79.63 to protect against excessive loss in case the stock begins to move against the trade. 79.86 is the first level of support below 84.25 , and by rule, any test of support is a buy signal. In this case, support 79.86 would be being tested, so a buy signal would exist.
- Short BECN slightly under 88.35, target 79.86, stop loss @ 88.61 Details
The technical summary data is suggesting a short of BECN as it gets near 88.35 with a downside target of 79.86. We should have a stop loss in place at 88.61though. 88.35 is the first level of resistance above 84.25, and by rule, any test of resistance is a short signal. In this case, if resistance 88.35 is being tested, so a short signal would exist.
Swing Trading Plans for BECN
- Buy BECN slightly over 84.91, target 88.35, Stop Loss @ 84.66 Details
If 84.91 begins to break higher, the technical summary data tells us to buy BECN just slightly over 84.91, with an upside target of 88.35. The data also tells us to set a stop loss @ 84.66 in case the stock turns against the trade. 84.91 is the first level of resistance above 84.25, and by rule, any break above resistance is a buy signal. In this case, 84.91, 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 BECN slightly near 84.91, target 79.86, Stop Loss @ 85.16. Details
The technical summary data is suggesting a short of BECN if it tests 84.91 with a downside target of 79.86. We should have a stop loss in place at 85.16 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, 84.91, 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 BECN
- Buy BECN slightly over 84.68, target 84.91, Stop Loss @ 84.48 Details
If 84.68 begins to break higher, the technical summary data tells us to buy BECN just slightly over 84.68, with an upside target of 84.91. The data also tells us to set a stop loss @ 84.48 in case the stock turns against the trade. 84.68 is the first level of resistance above 84.25, and by rule, any break above resistance is a buy signal. In this case, 84.68, 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 BECN slightly near 84.68, target 79.86, Stop Loss @ 84.88. Details
The technical summary data is suggesting a short of BECN if it tests 84.68 with a downside target of 79.86. We should have a stop loss in place at 84.88 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, 84.68, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Beacon Roofing Supply Inc. (BECN) available here: BECN.
BECN Ratings for February 29:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
79.86 |
| P2 |
84.68 |
84.91 |
88.35 |
| P3 |
88.86 |
88.81 |
96.76 |
AI Generated Signals for BECN
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Beacon Roofing Supply Inc. (NASDAQ: BECN) report below can help you understand how to do this. The trading plans for BECN, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for BECN:
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