When the Price of (LECO) Talks, People Listen

June 22, 2024, 23:18 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LECO

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short LECO slightly under 205.99, target n/a, stop loss @ 206.58 Details

The technical summary data is suggesting a short of LECO as it gets near 205.99, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 206.58. 205.99 is the first level of resistance above 187.91, and by rule, any test of resistance is a short signal. In this case, if resistance 205.99 is being tested, so a short signal would exist.

Swing Trading Plans for LECO

• Buy LECO slightly over 205.99, target 232.91, Stop Loss @ 205.4 Details

If 205.99 begins to break higher, the technical summary data tells us to buy LECO just slightly over 205.99, with an upside target of 232.91. The data also tells us to set a stop loss @ 205.4 in case the stock turns against the trade. 205.99 is the first level of resistance above 187.91, and by rule, any break above resistance is a buy signal. In this case, 205.99, 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 LECO slightly near 205.99, target 186.86, Stop Loss @ 206.58. Details

The technical summary data is suggesting a short of LECO if it tests 205.99 with a downside target of 186.86. We should have a stop loss in place at 206.58 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, 205.99, 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 LECO

• Buy LECO slightly over 189.74, target 205.99, Stop Loss @ 189.3 Details

If 189.74 begins to break higher, the technical summary data tells us to buy LECO just slightly over 189.74, with an upside target of 205.99. The data also tells us to set a stop loss @ 189.3 in case the stock turns against the trade. 189.74 is the first level of resistance above 187.91, and by rule, any break above resistance is a buy signal. In this case, 189.74, 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 LECO slightly near 189.74, target 186.86, Stop Loss @ 190.18. Details

The technical summary data is suggesting a short of LECO if it tests 189.74 with a downside target of 186.86. We should have a stop loss in place at 190.18 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, 189.74, 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 Lincoln Electric Holdings Inc. (LECO) available here: LECO.

LECO Ratings for June 22:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	205.99
P2	186.33	180.45	232.91
P3	189.74	186.86	259.38

AI Generated Signals for LECO

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Lincoln Electric Holdings Inc. (NASDAQ: LECO) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for LECO can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.