Trading (IYM) With Integrated Risk Controls
October 01, 2024, 04:30 am ET, BY Bill- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for IYM
- Buy IYM near 147.62 target 153.86 stop loss @ 147.19 Details
The technical summary data tells us to buy IYM near 147.62 with an upside target of 153.86. This data also tells us to set a stop loss @ 147.19 to protect against excessive loss in case the stock begins to move against the trade. 147.62 is the first level of support below 150.155 , and by rule, any test of support is a buy signal. In this case, support 147.62 is being tested, a buy signal would exist.
- Short IYM slightly under 153.86, target 147.62, stop loss @ 154.3 Details
The technical summary data is suggesting a short of IYM as it gets near 153.86 with a downside target of 147.62. We should have a stop loss in place at 154.3though. 153.86 is the first level of resistance above 150.155, and by rule, any test of resistance is a short signal. In this case, if resistance 153.86 is being tested, a short signal would exist.
Swing Trading Plans for IYM
- Buy IYM slightly over 150.27, target 152.87, Stop Loss @ 149.84 Details
If 150.27 begins to break higher, the technical summary data tells us to buy IYM just slightly over 150.27, with an upside target of 152.87. The data also tells us to set a stop loss @ 149.84 in case the stock turns against the trade. 150.27 is the first level of resistance above 150.155, and by rule, any break above resistance is a buy signal. In this case, 150.27, 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 IYM slightly near 150.27, target 147.62, Stop Loss @ 150.7. Details
The technical summary data is suggesting a short of IYM if it tests 150.27 with a downside target of 147.62. We should have a stop loss in place at 150.7 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, 150.27, 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 IYM
- Buy IYM slightly over 150.27, target 152.26, Stop Loss @ 149.92 Details
If 150.27 begins to break higher, the technical summary data tells us to buy IYM just slightly over 150.27, with an upside target of 152.26. The data also tells us to set a stop loss @ 149.92 in case the stock turns against the trade. 150.27 is the first level of resistance above 150.155, and by rule, any break above resistance is a buy signal. In this case, 150.27, 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 IYM slightly near 150.27, target 150.01, Stop Loss @ 150.62. Details
The technical summary data is suggesting a short of IYM if it tests 150.27 with a downside target of 150.01. We should have a stop loss in place at 150.62 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, 150.27, 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 Ishares U.s. Basic Materials Etf (IYM) available here: IYM.
IYM Ratings for October 01:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Strong |
| P1 |
0 |
0 |
141.03 |
| P2 |
150.01 |
150.27 |
147.62 |
| P3 |
152.26 |
152.87 |
153.86 |
AI Generated Signals for IYM
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for IYM:
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