Learn to Evaluate Mueller Industries (MLI) using the Charts

September 26, 2022, 23:00 pm ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

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  Mueller Industries (NYSE: MLI) report below can help you understand how to do this. The trading plans for MLI, 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.

Longer Term Trading Plans for MLI

• Buy MLI slightly over 54.60 target 61.22 stop loss @ 54.44 Details

The technical summary data tells us to buy MLI near 54.60 with an upside target of 61.22. This data also tells us to set a stop loss @ 54.44 to protect against excessive loss in case the stock begins to move against the trade. 54.60 is the first level of support below 57.8 , and by rule, any test of support is a buy signal. In this case, support 54.60 would be being tested, so a buy signal would exist.

• Short MLI slightly under 61.22, target 54.60, stop loss @ 61.4 Details

The technical summary data is suggesting a short of MLI as it gets near 61.22 with a downside target of 54.60. We should have a stop loss in place at 61.4though. 61.22 is the first level of resistance above 57.8, and by rule, any test of resistance is a short signal. In this case, if resistance 61.22 is being tested, so a short signal would exist.

Swing Trading Plans for MLI

• Buy MLI slightly over 57.91, target 60.12, Stop Loss @ 57.74 Details

If 57.91 begins to break higher, the technical summary data tells us to buy MLI just slightly over 57.91, with an upside target of 60.12. The data also tells us to set a stop loss @ 57.74 in case the stock turns against the trade. 57.91 is the first level of resistance above 57.8, and by rule, any break above resistance is a buy signal. In this case, 57.91, 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 MLI slightly near 57.91, target 54.60, Stop Loss @ 58.08. Details

The technical summary data is suggesting a short of MLI if it tests 57.91 with a downside target of 54.60. We should have a stop loss in place at 58.08 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, 57.91, 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 MLI

• Buy MLI slightly over 57.91, target 60.25, Stop Loss @ 57.77 Details

If 57.91 begins to break higher, the technical summary data tells us to buy MLI just slightly over 57.91, with an upside target of 60.25. The data also tells us to set a stop loss @ 57.77 in case the stock turns against the trade. 57.91 is the first level of resistance above 57.8, and by rule, any break above resistance is a buy signal. In this case, 57.91, 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 MLI slightly near 57.91, target 54.60, Stop Loss @ 58.05. Details

The technical summary data is suggesting a short of MLI if it tests 57.91 with a downside target of 54.60. We should have a stop loss in place at 58.05 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, 57.91, 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.

MLI Ratings for September 26:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	54.60
P2	57.88	57.91	61.22
P3	60.25	60.12	68.07

Support and Resistance Plot Chart for MLI

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