How To Trade (ONTO)

March 14, 2024, 16:22 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ONTO

• Buy ONTO slightly over 170.82 target 187.82 stop loss @ 170.33 Details

The technical summary data tells us to buy ONTO near 170.82 with an upside target of 187.82. This data also tells us to set a stop loss @ 170.33 to protect against excessive loss in case the stock begins to move against the trade. 170.82 is the first level of support below 175.01 , and by rule, any test of support is a buy signal. In this case, support 170.82 is being tested, a buy signal would exist.

• Short ONTO slightly under 187.82, target 170.82, stop loss @ 188.36 Details

The technical summary data is suggesting a short of ONTO as it gets near 187.82 with a downside target of 170.82. We should have a stop loss in place at 188.36though. 187.82 is the first level of resistance above 175.01, and by rule, any test of resistance is a short signal. In this case, if resistance 187.82 is being tested, a short signal would exist.

Swing Trading Plans for ONTO

• Buy ONTO slightly over 177.41, target 187.82, Stop Loss @ 176.9 Details

If 177.41 begins to break higher, the technical summary data tells us to buy ONTO just slightly over 177.41, with an upside target of 187.82. The data also tells us to set a stop loss @ 176.9 in case the stock turns against the trade. 177.41 is the first level of resistance above 175.01, and by rule, any break above resistance is a buy signal. In this case, 177.41, 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 ONTO slightly near 177.41, target 170.82, Stop Loss @ 177.92. Details

The technical summary data is suggesting a short of ONTO if it tests 177.41 with a downside target of 170.82. We should have a stop loss in place at 177.92 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, 177.41, 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 ONTO

• Buy ONTO slightly over 177.41, target 177.85, Stop Loss @ 177 Details

If 177.41 begins to break higher, the technical summary data tells us to buy ONTO just slightly over 177.41, with an upside target of 177.85. The data also tells us to set a stop loss @ 177 in case the stock turns against the trade. 177.41 is the first level of resistance above 175.01, and by rule, any break above resistance is a buy signal. In this case, 177.41, 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 ONTO slightly near 177.41, target 170.82, Stop Loss @ 177.82. Details

The technical summary data is suggesting a short of ONTO if it tests 177.41 with a downside target of 170.82. We should have a stop loss in place at 177.82 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, 177.41, 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 Onto Innovation Inc. (ONTO) available here: ONTO.

ONTO Ratings for March 14:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	154.84
P2	169.33	177.41	170.82
P3	177.85	193.13	187.82

AI Generated Signals for ONTO

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This report provides trading strategies for Onto Innovation Inc. (NASDAQ: ONTO) while incorporating 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 ONTO change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ONTO 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 ONTO too.  All of these are offered below the Summary Table.