(CARZ) Investment Report

October 20, 2024, 14:06 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CARZ

• Buy CARZ near 54.58 target 58.49 stop loss @ 54.42 Details

The technical summary data tells us to buy CARZ near 54.58 with an upside target of 58.49. This data also tells us to set a stop loss @ 54.42 to protect against excessive loss in case the stock begins to move against the trade. 54.58 is the first level of support below 57.29 , and by rule, any test of support is a buy signal. In this case, support 54.58 would be being tested, so a buy signal would exist.

• Short CARZ slightly under 58.49, target 54.58, stop loss @ 58.66 Details

The technical summary data is suggesting a short of CARZ as it gets near 58.49 with a downside target of 54.58. We should have a stop loss in place at 58.66though. 58.49 is the first level of resistance above 57.29, and by rule, any test of resistance is a short signal. In this case, if resistance 58.49 is being tested, so a short signal would exist.

Swing Trading Plans for CARZ

• Buy CARZ slightly over 58.07, target 58.49, Stop Loss @ 57.9 Details

If 58.07 begins to break higher, the technical summary data tells us to buy CARZ just slightly over 58.07, with an upside target of 58.49. The data also tells us to set a stop loss @ 57.9 in case the stock turns against the trade. 58.07 is the first level of resistance above 57.29, and by rule, any break above resistance is a buy signal. In this case, 58.07, 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 CARZ slightly near 58.07, target 57.06, Stop Loss @ 58.24. Details

The technical summary data is suggesting a short of CARZ if it tests 58.07 with a downside target of 57.06. We should have a stop loss in place at 58.24 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, 58.07, 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 CARZ

• Buy CARZ slightly over 57.68, target 58.07, Stop Loss @ 57.55 Details

If 57.68 begins to break higher, the technical summary data tells us to buy CARZ just slightly over 57.68, with an upside target of 58.07. The data also tells us to set a stop loss @ 57.55 in case the stock turns against the trade. 57.68 is the first level of resistance above 57.29, and by rule, any break above resistance is a buy signal. In this case, 57.68, 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 CARZ slightly near 57.68, target 57.06, Stop Loss @ 57.81. Details

The technical summary data is suggesting a short of CARZ if it tests 57.68 with a downside target of 57.06. We should have a stop loss in place at 57.81 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, 57.68, 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 Nasdaq Global Auto Index Fund (CARZ) available here: CARZ.

CARZ Ratings for October 20:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	54.58
P2	56.83	57.06	58.49
P3	57.68	58.07	62.18

AI Generated Signals for CARZ

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in First Trust Nasdaq Global Auto Index Fund (NASDAQ: CARZ) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CARZ change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CARZ is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CARZ too.  All of these are offered below the Summary Table.