Trading (MORN) With Integrated Risk Controls

May 02, 2024, 22:50 pm ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MORN

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short MORN slightly under 293.9, target n/a, stop loss @ 294.75 Details

The technical summary data is suggesting a short of MORN as it gets near 293.9, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 294.75. 293.9 is the first level of resistance above 290.98, and by rule, any test of resistance is a short signal. In this case, if resistance 293.9 is being tested, so a short signal would exist.

Swing Trading Plans for MORN

• Buy MORN slightly over 291.21, target 293.9, Stop Loss @ 290.37 Details

If 291.21 begins to break higher, the technical summary data tells us to buy MORN just slightly over 291.21, with an upside target of 293.9. The data also tells us to set a stop loss @ 290.37 in case the stock turns against the trade. 291.21 is the first level of resistance above 290.98, and by rule, any break above resistance is a buy signal. In this case, 291.21, 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 MORN slightly near 291.21, target 279.43, Stop Loss @ 292.05. Details

The technical summary data is suggesting a short of MORN if it tests 291.21 with a downside target of 279.43. We should have a stop loss in place at 292.05 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, 291.21, 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 MORN

• Buy MORN slightly over 291.21, target 293.9, Stop Loss @ 290.53 Details

If 291.21 begins to break higher, the technical summary data tells us to buy MORN just slightly over 291.21, with an upside target of 293.9. The data also tells us to set a stop loss @ 290.53 in case the stock turns against the trade. 291.21 is the first level of resistance above 290.98, and by rule, any break above resistance is a buy signal. In this case, 291.21, 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 MORN slightly near 291.21, target 290.92, Stop Loss @ 291.89. Details

The technical summary data is suggesting a short of MORN if it tests 291.21 with a downside target of 290.92. We should have a stop loss in place at 291.89 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, 291.21, 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 Morningstar Inc. (MORN) available here: MORN.

MORN Ratings for May 02:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	293.9
P2	285.56	279.43	312.13
P3	290.92	291.21	329.39

AI Generated Signals for MORN

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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 Morningstar Inc. (NASDAQ: MORN) report below can help you, but we have more details too. The trading plans for MORN, 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.