When the Price of Invalid Iqfeed Symbol ELY Talks, People Listen

September 24, 2022, 17:00 pm ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Invalid Iqfeed Symbol (NYSE: ELY) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for ELY can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for ELY

• Buy ELY slightly over 20.27 target 22.71 stop loss @ 20.21 Details

The technical summary data tells us to buy ELY near 20.27 with an upside target of 22.71. This data also tells us to set a stop loss @ 20.21 to protect against excessive loss in case the stock begins to move against the trade. 20.27 is the first level of support below 21.33 , and by rule, any test of support is a buy signal. In this case, support 20.27 is being tested, a buy signal would exist.

• Short ELY slightly under 22.71, target 20.27, stop loss @ 22.78 Details

The technical summary data is suggesting a short of ELY as it gets near 22.71 with a downside target of 20.27. We should have a stop loss in place at 22.78though. 22.71 is the first level of resistance above 21.33, and by rule, any test of resistance is a short signal. In this case, if resistance 22.71 is being tested, a short signal would exist.

Swing Trading Plans for ELY

• Buy ELY slightly over 22.13, target 22.71, Stop Loss @ 22.07 Details

If 22.13 begins to break higher, the technical summary data tells us to buy ELY just slightly over 22.13, with an upside target of 22.71. The data also tells us to set a stop loss @ 22.07 in case the stock turns against the trade. 22.13 is the first level of resistance above 21.33, and by rule, any break above resistance is a buy signal. In this case, 22.13, 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 ELY slightly near 22.13, target 21.30, Stop Loss @ 22.19. Details

The technical summary data is suggesting a short of ELY if it tests 22.13 with a downside target of 21.30. We should have a stop loss in place at 22.19 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, 22.13, 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 ELY

• Buy ELY slightly over 21.82, target 22.13, Stop Loss @ 21.77 Details

If 21.82 begins to break higher, the technical summary data tells us to buy ELY just slightly over 21.82, with an upside target of 22.13. The data also tells us to set a stop loss @ 21.77 in case the stock turns against the trade. 21.82 is the first level of resistance above 21.33, and by rule, any break above resistance is a buy signal. In this case, 21.82, 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 ELY slightly near 21.82, target 21.30, Stop Loss @ 21.87. Details

The technical summary data is suggesting a short of ELY if it tests 21.82 with a downside target of 21.30. We should have a stop loss in place at 21.87 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, 21.82, 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.

ELY Ratings for September 24:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	17.59
P2	21.12	21.30	20.27
P3	21.82	22.13	22.71

Support and Resistance Plot Chart for ELY

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