Trading (NXT) With Integrated Risk Controls
November 03, 2024, 08:28 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for NXT
- Buy NXT near 32.45 target 42.11 stop loss @ 32.36 Details
The technical summary data tells us to buy NXT near 32.45 with an upside target of 42.11. This data also tells us to set a stop loss @ 32.36 to protect against excessive loss in case the stock begins to move against the trade. 32.45 is the first level of support below 39.61 , and by rule, any test of support is a buy signal. In this case, support 32.45 would be being tested, so a buy signal would exist.
- Short NXT slightly under 42.11, target 32.45, stop loss @ 42.23 Details
The technical summary data is suggesting a short of NXT as it gets near 42.11 with a downside target of 32.45. We should have a stop loss in place at 42.23though. 42.11 is the first level of resistance above 39.61, and by rule, any test of resistance is a short signal. In this case, if resistance 42.11 is being tested, so a short signal would exist.
Swing Trading Plans for NXT
- Buy NXT slightly over 42.11, target 52.27, Stop Loss @ 41.99 Details
If 42.11 begins to break higher, the technical summary data tells us to buy NXT just slightly over 42.11, with an upside target of 52.27. The data also tells us to set a stop loss @ 41.99 in case the stock turns against the trade. 42.11 is the first level of resistance above 39.61, and by rule, any break above resistance is a buy signal. In this case, 42.11, 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 NXT slightly near 42.11, target 38.61, Stop Loss @ 42.23. Details
The technical summary data is suggesting a short of NXT if it tests 42.11 with a downside target of 38.61. We should have a stop loss in place at 42.23 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, 42.11, 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 NXT
- Buy NXT slightly over 42.24, target 52.27, Stop Loss @ 42.14 Details
If 42.24 begins to break higher, the technical summary data tells us to buy NXT just slightly over 42.24, with an upside target of 52.27. The data also tells us to set a stop loss @ 42.14 in case the stock turns against the trade. 42.24 is the first level of resistance above 39.61, and by rule, any break above resistance is a buy signal. In this case, 42.24, 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 NXT slightly near 42.24, target 38.61, Stop Loss @ 42.34. Details
The technical summary data is suggesting a short of NXT if it tests 42.24 with a downside target of 38.61. We should have a stop loss in place at 42.34 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, 42.24, 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 Nextracker Inc. (NXT) available here: NXT.
NXT Ratings for November 03:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Weak |
| P1 |
0 |
0 |
32.45 |
| P2 |
38.27 |
33.26 |
42.11 |
| P3 |
42.24 |
38.61 |
52.27 |
AI Generated Signals for NXT
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for NXT:
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