(LGIH) Trading Report

October 23, 2024, 00:30 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LGIH

• Buy LGIH near 101.43 target 116.24 stop loss @ 101.14 Details

The technical summary data tells us to buy LGIH near 101.43 with an upside target of 116.24. This data also tells us to set a stop loss @ 101.14 to protect against excessive loss in case the stock begins to move against the trade. 101.43 is the first level of support below 105 , and by rule, any test of support is a buy signal. In this case, support 101.43 is being tested, a buy signal would exist.

• Short LGIH slightly under 116.24, target 101.43, stop loss @ 116.58 Details

The technical summary data is suggesting a short of LGIH as it gets near 116.24 with a downside target of 101.43. We should have a stop loss in place at 116.58though. 116.24 is the first level of resistance above 105, and by rule, any test of resistance is a short signal. In this case, if resistance 116.24 is being tested, a short signal would exist.

Swing Trading Plans for LGIH

• Buy LGIH slightly over 108.58, target 115.61, Stop Loss @ 108.27 Details

If 108.58 begins to break higher, the technical summary data tells us to buy LGIH just slightly over 108.58, with an upside target of 115.61. The data also tells us to set a stop loss @ 108.27 in case the stock turns against the trade. 108.58 is the first level of resistance above 105, and by rule, any break above resistance is a buy signal. In this case, 108.58, 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 LGIH slightly near 108.58, target 101.43, Stop Loss @ 108.89. Details

The technical summary data is suggesting a short of LGIH if it tests 108.58 with a downside target of 101.43. We should have a stop loss in place at 108.89 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, 108.58, 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 LGIH

• Buy LGIH slightly over 107.99, target 108.58, Stop Loss @ 107.74 Details

If 107.99 begins to break higher, the technical summary data tells us to buy LGIH just slightly over 107.99, with an upside target of 108.58. The data also tells us to set a stop loss @ 107.74 in case the stock turns against the trade. 107.99 is the first level of resistance above 105, and by rule, any break above resistance is a buy signal. In this case, 107.99, 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 LGIH slightly near 107.99, target 103.86, Stop Loss @ 108.24. Details

The technical summary data is suggesting a short of LGIH if it tests 107.99 with a downside target of 103.86. We should have a stop loss in place at 108.24 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, 107.99, 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 Lgi Homes Inc. (LGIH) available here: LGIH.

LGIH Ratings for October 23:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	86.65
P2	103.86	108.58	101.43
P3	107.99	115.61	116.24

AI Generated Signals for LGIH

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Lgi Homes Inc. (NASDAQ: LGIH) while incorporating prudent risk controls. 

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LGIH change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if LGIH is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for LGIH too.  All of these are offered below the Summary Table.