How the price action of Scotts Miracle Gro (SMG) is used to our Advantage

Source: Stock Traders Daily

Longer Term Trading Plans for SMG
  • 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 SMG under 62.36, target n/a, stop loss @ 62.54 Details
  • The technical summary data is suggesting a short of SMG as it gets near 62.36, 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 62.54. 62.36 is the first level of resistance above 57.9, and by rule, any test of resistance is a short signal. In this case, if resistance 62.36 is being tested, so a short signal would exist.

Swing Trading Plans for SMG
  • Buy SMG slightly over 62.36, target 79.55, Stop Loss @ 62.18 Details
  • If 62.36 begins to break higher, the technical summary data tells us to buy SMG just slightly over 62.36, with an upside target of 79.55. The data also tells us to set a stop loss @ 62.18 in case the stock turns against the trade. 62.36 is the first level of resistance above 57.9, and by rule, any break above resistance is a buy signal. In this case, 62.36, 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 SMG near 62.36, target 57.77, Stop Loss @ 62.54. Details
  • The technical summary data is suggesting a short of SMG if it tests 62.36 with a downside target of 57.77. We should have a stop loss in place at 62.54 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, 62.36, 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 SMG
  • Buy SMG slightly over 62.36, target 79.55, Stop Loss @ 62.21 Details
  • If 62.36 begins to break higher, the technical summary data tells us to buy SMG just slightly over 62.36, with an upside target of 79.55. The data also tells us to set a stop loss @ 62.21 in case the stock turns against the trade. 62.36 is the first level of resistance above 57.9, and by rule, any break above resistance is a buy signal. In this case, 62.36, 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 SMG near 62.36, target 57.77, Stop Loss @ 62.51. Details
  • The technical summary data is suggesting a short of SMG if it tests 62.36 with a downside target of 57.77. We should have a stop loss in place at 62.51 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, 62.36, 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.

SMG Ratings for September 09:

Term →Near Mid Long
Rating Weak Weak Weak
P1 0 0 62.36
P2 53.27 53.26 79.55
P3 56.68 57.77 98.01

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SMG Long Term Analysis for September 9 2022


SMG Swing Trading Analysis for September 9 2022


SMG Day Trading Analysis for September 9 2022

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Scotts Miracle Gro (NYSE: SMG) data table below can help you with price action, and we have more details too. Trading plans for SMG are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.