Trading Cathay General Bancorp $CATY With Integrated Risk Controls
October 24, 2023, 08:30 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CATY
- Buy CATY slightly over 31.76 target 36.29 stop loss @ 31.67 Details
The technical summary data tells us to buy CATY near 31.76 with an upside target of 36.29. This data also tells us to set a stop loss @ 31.67 to protect against excessive loss in case the stock begins to move against the trade. 31.76 is the first level of support below 33.31 , and by rule, any test of support is a buy signal. In this case, support 31.76 is being tested, a buy signal would exist.
- Short CATY slightly under 36.29, target 31.76, stop loss @ 36.39 Details
The technical summary data is suggesting a short of CATY as it gets near 36.29 with a downside target of 31.76. We should have a stop loss in place at 36.39though. 36.29 is the first level of resistance above 33.31, and by rule, any test of resistance is a short signal. In this case, if resistance 36.29 is being tested, a short signal would exist.
Swing Trading Plans for CATY
- Buy CATY slightly over 33.62, target 35.17, Stop Loss @ 33.52 Details
If 33.62 begins to break higher, the technical summary data tells us to buy CATY just slightly over 33.62, with an upside target of 35.17. The data also tells us to set a stop loss @ 33.52 in case the stock turns against the trade. 33.62 is the first level of resistance above 33.31, and by rule, any break above resistance is a buy signal. In this case, 33.62, 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 CATY slightly near 33.62, target 31.76, Stop Loss @ 33.72. Details
The technical summary data is suggesting a short of CATY if it tests 33.62 with a downside target of 31.76. We should have a stop loss in place at 33.72 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, 33.62, 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 CATY
- Buy CATY slightly over 33.62, target 34.27, Stop Loss @ 33.54 Details
If 33.62 begins to break higher, the technical summary data tells us to buy CATY just slightly over 33.62, with an upside target of 34.27. The data also tells us to set a stop loss @ 33.54 in case the stock turns against the trade. 33.62 is the first level of resistance above 33.31, and by rule, any break above resistance is a buy signal. In this case, 33.62, 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 CATY slightly near 33.62, target 33.10, Stop Loss @ 33.7. Details
The technical summary data is suggesting a short of CATY if it tests 33.62 with a downside target of 33.10. We should have a stop loss in place at 33.7 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, 33.62, 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 Cathay General Bancorp (CATY) available here: CATY.
CATY Ratings for October 24:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Weak |
| P1 |
0 |
0 |
26.99 |
| P2 |
33.10 |
33.62 |
31.76 |
| P3 |
34.27 |
35.17 |
36.29 |
AI Generated Signals for CATY
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for CATY:
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