When (ORA) Moves Investors should Listen
December 21, 2023, 06:50 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ORA
- Buy ORA slightly over 73.05 target n/a stop loss @ 72.84. Details
The technical summary data tells us to buy ORA near 73.05, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 72.84 to protect against excessive loss in case the stock begins to move against the trade. 73.05 is the first level of support below 73.55, and by rule, any test of support is a buy signal. In this case, if support 73.05 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for ORA
- Buy ORA slightly over 74.35, target 78.28, Stop Loss @ 74.14 Details
If 74.35 begins to break higher, the technical summary data tells us to buy ORA just slightly over 74.35, with an upside target of 78.28. The data also tells us to set a stop loss @ 74.14 in case the stock turns against the trade. 74.35 is the first level of resistance above 73.55, and by rule, any break above resistance is a buy signal. In this case, 74.35, 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 ORA slightly near 74.35, target 73.05, Stop Loss @ 74.56. Details
The technical summary data is suggesting a short of ORA if it tests 74.35 with a downside target of 73.05. We should have a stop loss in place at 74.56 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, 74.35, 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 ORA
- Buy ORA slightly over 73.81, target 74.35, Stop Loss @ 73.64 Details
If 73.81 begins to break higher, the technical summary data tells us to buy ORA just slightly over 73.81, with an upside target of 74.35. The data also tells us to set a stop loss @ 73.64 in case the stock turns against the trade. 73.81 is the first level of resistance above 73.55, and by rule, any break above resistance is a buy signal. In this case, 73.81, 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 ORA slightly near 73.81, target 73.05, Stop Loss @ 73.98. Details
The technical summary data is suggesting a short of ORA if it tests 73.81 with a downside target of 73.05. We should have a stop loss in place at 73.98 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, 73.81, 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 Ormat Technologies Inc. (ORA) available here: ORA.
ORA Ratings for December 21:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Weak |
| P1 |
0 |
0 |
61.4 |
| P2 |
73.81 |
74.35 |
67.46 |
| P3 |
75.26 |
78.28 |
73.05 |
AI Generated Signals for ORA
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Ormat Technologies Inc. (NYSE: ORA) report below is a real world example. Included are trading plans for ORA, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for ORA:
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