When the Price of (ORA) Talks, People Listen

May 23, 2024, 04:12 am ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ORA

• Buy ORA slightly over 69.53 target n/a stop loss @ 69.33. Details

The technical summary data tells us to buy ORA near 69.53, 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 69.33 to protect against excessive loss in case the stock begins to move against the trade. 69.53 is the first level of support below 73.09, and by rule, any test of support is a buy signal. In this case, if support 69.53 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 74.46, target n/a, Stop Loss @ 74.24 Details

If 74.46 begins to break higher, the technical summary data tells us to buy ORA just slightly over 74.46, with an upside target of n/a. The data also tells us to set a stop loss @ 74.24 in case the stock turns against the trade. 74.46 is the first level of resistance above 73.09, and by rule, any break above resistance is a buy signal. In this case, 74.46, 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 74.46, target 72.09, Stop Loss @ 74.68. Details

The technical summary data is suggesting a short of ORA if it tests 74.46 with a downside target of 72.09. We should have a stop loss in place at 74.68 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, 74.46, 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 73.18, target 74.46, Stop Loss @ 73.01 Details

If 73.18 begins to break higher, the technical summary data tells us to buy ORA just slightly over 73.18, with an upside target of 74.46. The data also tells us to set a stop loss @ 73.01 in case the stock turns against the trade. 73.18 is the first level of resistance above 73.09, and by rule, any break above resistance is a buy signal. In this case, 73.18, 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 73.18, target 72.09, Stop Loss @ 73.35. Details

The technical summary data is suggesting a short of ORA if it tests 73.18 with a downside target of 72.09. We should have a stop loss in place at 73.35 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, 73.18, 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 May 23:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Weak
P1	0	0	55.97
P2	71.67	72.09	62.86
P3	73.18	74.46	69.53

AI Generated Signals for ORA

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Ormat Technologies Inc. (NYSE: ORA) 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 ORA 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.