Trading (MMLG) With Integrated Risk Controls

August 02, 2024, 06:24 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MMLG

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short MMLG slightly under 27.37, target n/a, stop loss @ 27.45 Details

The technical summary data is suggesting a short of MMLG as it gets near 27.37, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 27.45. 27.37 is the first level of resistance above 26.43, and by rule, any test of resistance is a short signal. In this case, if resistance 27.37 is being tested, so a short signal would exist.

Swing Trading Plans for MMLG

• Buy MMLG slightly over 26.78, target 27.37, Stop Loss @ 26.7 Details

If 26.78 begins to break higher, the technical summary data tells us to buy MMLG just slightly over 26.78, with an upside target of 27.37. The data also tells us to set a stop loss @ 26.7 in case the stock turns against the trade. 26.78 is the first level of resistance above 26.43, and by rule, any break above resistance is a buy signal. In this case, 26.78, 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 MMLG slightly near 26.78, target 26.12, Stop Loss @ 26.86. Details

The technical summary data is suggesting a short of MMLG if it tests 26.78 with a downside target of 26.12. We should have a stop loss in place at 26.86 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, 26.78, 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 MMLG

• Buy MMLG slightly over 26.45, target 26.95, Stop Loss @ 26.39 Details

If 26.45 begins to break higher, the technical summary data tells us to buy MMLG just slightly over 26.45, with an upside target of 26.95. The data also tells us to set a stop loss @ 26.39 in case the stock turns against the trade. 26.45 is the first level of resistance above 26.43, and by rule, any break above resistance is a buy signal. In this case, 26.45, 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 MMLG slightly near 26.45, target 26.12, Stop Loss @ 26.51. Details

The technical summary data is suggesting a short of MMLG if it tests 26.45 with a downside target of 26.12. We should have a stop loss in place at 26.51 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, 26.45, 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 First Trust Multi-manager Large Growth Etf (MMLG) available here: MMLG.

MMLG Ratings for August 02:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	27.37
P2	26.45	26.12	28.92
P3	26.95	26.78	30.41

AI Generated Signals for MMLG

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