Trading (OTIS) With Integrated Risk Controls
October 12, 2024, 22:26 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for OTIS
- Buy OTIS near 100.4 target 106.22 stop loss @ 100.11 Details
The technical summary data tells us to buy OTIS near 100.4 with an upside target of 106.22. This data also tells us to set a stop loss @ 100.11 to protect against excessive loss in case the stock begins to move against the trade. 100.4 is the first level of support below 104.03 , and by rule, any test of support is a buy signal. In this case, support 100.4 is being tested, a buy signal would exist.
- Short OTIS slightly under 106.22, target 100.4, stop loss @ 106.53 Details
The technical summary data is suggesting a short of OTIS as it gets near 106.22 with a downside target of 100.4. We should have a stop loss in place at 106.53though. 106.22 is the first level of resistance above 104.03, and by rule, any test of resistance is a short signal. In this case, if resistance 106.22 is being tested, a short signal would exist.
Swing Trading Plans for OTIS
- Buy OTIS slightly over 104.98, target 106.22, Stop Loss @ 104.68 Details
If 104.98 begins to break higher, the technical summary data tells us to buy OTIS just slightly over 104.98, with an upside target of 106.22. The data also tells us to set a stop loss @ 104.68 in case the stock turns against the trade. 104.98 is the first level of resistance above 104.03, and by rule, any break above resistance is a buy signal. In this case, 104.98, 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 OTIS slightly near 104.98, target 101.58, Stop Loss @ 105.28. Details
The technical summary data is suggesting a short of OTIS if it tests 104.98 with a downside target of 101.58. We should have a stop loss in place at 105.28 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, 104.98, 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 OTIS
- Buy OTIS slightly over 104.98, target 106.22, Stop Loss @ 104.74 Details
If 104.98 begins to break higher, the technical summary data tells us to buy OTIS just slightly over 104.98, with an upside target of 106.22. The data also tells us to set a stop loss @ 104.74 in case the stock turns against the trade. 104.98 is the first level of resistance above 104.03, and by rule, any break above resistance is a buy signal. In this case, 104.98, 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 OTIS slightly near 104.98, target 103, Stop Loss @ 105.22. Details
The technical summary data is suggesting a short of OTIS if it tests 104.98 with a downside target of 103. We should have a stop loss in place at 105.22 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, 104.98, 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 Otis Worldwide Corporation (OTIS) available here: OTIS.
OTIS Ratings for October 12:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Strong |
Strong |
| P1 |
0 |
0 |
94.45 |
| P2 |
100.75 |
101.58 |
100.4 |
| P3 |
103 |
104.98 |
106.22 |
AI Generated Signals for OTIS
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for OTIS:
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