Learn to Evaluate Quanex Building Products (NX) using the Charts
November 24, 2022, 13:00 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for NX
- Buy NX slightly over 21.62 target 24.20 stop loss @ 21.56 Details
The technical summary data tells us to buy NX near 21.62 with an upside target of 24.20. This data also tells us to set a stop loss @ 21.56 to protect against excessive loss in case the stock begins to move against the trade. 21.62 is the first level of support below 23.98 , and by rule, any test of support is a buy signal. In this case, support 21.62 is being tested, a buy signal would exist.
- Short NX slightly under 24.20, target 21.62, stop loss @ 24.27 Details
The technical summary data is suggesting a short of NX as it gets near 24.20 with a downside target of 21.62. We should have a stop loss in place at 24.27though. 24.20 is the first level of resistance above 23.98, and by rule, any test of resistance is a short signal. In this case, if resistance 24.20 is being tested, a short signal would exist.
Swing Trading Plans for NX
- Buy NX slightly over 24.20, target 24.55, Stop Loss @ 24.13 Details
If 24.20 begins to break higher, the technical summary data tells us to buy NX just slightly over 24.20, with an upside target of 24.55. The data also tells us to set a stop loss @ 24.13 in case the stock turns against the trade. 24.20 is the first level of resistance above 23.98, and by rule, any break above resistance is a buy signal. In this case, 24.20, 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 NX slightly near 24.20, target 23.68, Stop Loss @ 24.27. Details
The technical summary data is suggesting a short of NX if it tests 24.20 with a downside target of 23.68. We should have a stop loss in place at 24.27 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, 24.20, 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 NX
- Buy NX slightly over 24.33, target 24.55, Stop Loss @ 24.27 Details
If 24.33 begins to break higher, the technical summary data tells us to buy NX just slightly over 24.33, with an upside target of 24.55. The data also tells us to set a stop loss @ 24.27 in case the stock turns against the trade. 24.33 is the first level of resistance above 23.98, and by rule, any break above resistance is a buy signal. In this case, 24.33, 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 NX slightly near 24.33, target 23.84, Stop Loss @ 24.39. Details
The technical summary data is suggesting a short of NX if it tests 24.33 with a downside target of 23.84. We should have a stop loss in place at 24.39 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, 24.33, 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.
Real Time Updates are available on our Quanex Building Products (NX) Page here: NX.
NX Ratings for November 24:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Neutral |
| P1 |
0 |
0 |
19.14 |
| P2 |
23.84 |
23.68 |
21.62 |
| P3 |
24.33 |
24.55 |
24.20 |
Support and Resistance Plot Chart for NX
Blue = Current Price
Red= Resistance
Green = Support
Real Time Updates for Repeat Institutional Readers:
Instructions:Click the Get Real Time Updates button below.
In the login prompt, select forgot username
Type the email you use for Factset
Use the user/pass you receive to login
You will have 24/7 access to real time updates.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
Our Market Crash Leading Indicator isEvitar Corte.
Evitar Corte warned of market crash risk four times since 2000.
It identified the Internet Debacle before it happened.
It identified the Credit Crisis before it happened.
It identified the Corona Crash too.
See what Evitar Corte is Saying Now.
Get Notified When our Ratings Change:Take a Trial
When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Quanex Building Products (NYSE: NX) report below can help you understand how to do this. The trading plans for NX, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for NX:
pool ads
