Trading (ESTC) With Integrated Risk Controls
July 11, 2024, 06:34 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ESTC
- Buy ESTC slightly over 103.69 target 120.88 stop loss @ 103.39 Details
The technical summary data tells us to buy ESTC near 103.69 with an upside target of 120.88. This data also tells us to set a stop loss @ 103.39 to protect against excessive loss in case the stock begins to move against the trade. 103.69 is the first level of support below 115.35 , and by rule, any test of support is a buy signal. In this case, support 103.69 would be being tested, so a buy signal would exist.
- Short ESTC slightly under 120.88, target 103.69, stop loss @ 121.23 Details
The technical summary data is suggesting a short of ESTC as it gets near 120.88 with a downside target of 103.69. We should have a stop loss in place at 121.23though. 120.88 is the first level of resistance above 115.35, and by rule, any test of resistance is a short signal. In this case, if resistance 120.88 is being tested, so a short signal would exist.
Swing Trading Plans for ESTC
- Buy ESTC slightly over 118.03, target 120.88, Stop Loss @ 117.69 Details
If 118.03 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 118.03, with an upside target of 120.88. The data also tells us to set a stop loss @ 117.69 in case the stock turns against the trade. 118.03 is the first level of resistance above 115.35, and by rule, any break above resistance is a buy signal. In this case, 118.03, 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 ESTC slightly near 118.03, target 113.39, Stop Loss @ 118.37. Details
The technical summary data is suggesting a short of ESTC if it tests 118.03 with a downside target of 113.39. We should have a stop loss in place at 118.37 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, 118.03, 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 ESTC
- Buy ESTC slightly over 118.03, target 120.88, Stop Loss @ 117.75 Details
If 118.03 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 118.03, with an upside target of 120.88. The data also tells us to set a stop loss @ 117.75 in case the stock turns against the trade. 118.03 is the first level of resistance above 115.35, and by rule, any break above resistance is a buy signal. In this case, 118.03, 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 ESTC slightly near 118.03, target 113.86, Stop Loss @ 118.31. Details
The technical summary data is suggesting a short of ESTC if it tests 118.03 with a downside target of 113.86. We should have a stop loss in place at 118.31 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, 118.03, 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 Elastic N.v. (ESTC) available here: ESTC.
ESTC Ratings for July 11:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Strong |
| P1 |
0 |
0 |
103.69 |
| P2 |
111.57 |
113.39 |
120.88 |
| P3 |
113.86 |
118.03 |
139.9 |
AI Generated Signals for ESTC
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for ESTC:
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