How Stock Traders Daily uses Price Action in Teleflex #TFX to Define Opportunity and Risk

Source: Stock Traders Daily

Technical Summary

Term →Near Mid Long
Bias Weak Neutral Strong
P1 0 0 388.28
P2 403.39 396.06 413.54
P3 412.50 410.71 437.16

Both #opportunity and #risks can be drawn from looking at the #priceaction in Teleflex (NYSE: TFX).   This is a practice commonly referred to as reading the charts.  The summary data for TFX below demonstrates this, and there are trading plans that help investors understand how to utilize the data too.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports

Long Term Trading Plans for TFX

May 9, 2021, 9:45 am ET

The Technical Summary and Trading Plans for TFX help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this TFX Report.

TFX - (Long) Support Plan

The technical summary data tells us to buy TFX near 388.28 with an upside target of 413.54. This data also tells us to set a stop loss @ 387.16 to protect against excessive loss in case the stock begins to move against the trade. 388.28 is the first level of support below 412.55 , and by rule, any test of support is a buy signal. In this case, support 388.28 would be being tested, so a buy signal would exist.

TFX - (Short) Resistance Plan

The technical summary data is suggesting a short of TFX as it gets near 413.54 with a downside target of 388.28. We should have a stop loss in place at 414.73though. 413.54 is the first level of resistance above 412.55, and by rule, any test of resistance is a short signal. In this case, if resistance 413.54 is being tested, so a short signal would exist.

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Swing Trading Plans for TFX

May 9, 2021, 9:45 am ET

The Technical Summary and Trading Plans for TFX help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this TFX Report.

TFX - (Long) Support Plan

If 413.54 begins to break higher, the technical summary data tells us to buy TFX just over 413.54, with an upside target of 437.16. The data also tells us to set a stop loss @ 412.35 in case the stock turns against the trade. 413.54 is the first level of resistance above 412.55, and by rule, any break above resistance is a buy signal. In this case, 413.54, 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.

TFX - (Short) Resistance Plan

The technical summary data is suggesting a short of TFX if it tests 413.54 with a downside target of 410.71. We should have a stop loss in place at 414.73 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, 413.54, 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 TFX

May 9, 2021, 9:45 am ET

The Technical Summary and Trading Plans for TFX help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this TFX Report.

TFX - (Long) Support Plan

If 413.54 begins to break higher, the technical summary data tells us to buy TFX just over 413.54, with an upside target of 437.16. The data also tells us to set a stop loss @ 412.58 in case the stock turns against the trade. 413.54 is the first level of resistance above 412.55, and by rule, any break above resistance is a buy signal. In this case, 413.54, 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.

TFX - (Short) Resistance Plan

The technical summary data is suggesting a short of TFX if it tests 413.54 with a downside target of 412.50. We should have a stop loss in place at 414.5 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, 413.54, 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.