(ESTC) Technical Pivots with Risk Controls

November 01, 2024, 07:04 am ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ESTC

• Buy ESTC near 74.47 target 92.67 stop loss @ 74.25 Details

The technical summary data tells us to buy ESTC near 74.47 with an upside target of 92.67. This data also tells us to set a stop loss @ 74.25 to protect against excessive loss in case the stock begins to move against the trade. 74.47 is the first level of support below 80.23 , and by rule, any test of support is a buy signal. In this case, support 74.47 would be being tested, so a buy signal would exist.

• Short ESTC slightly under 92.67, target 74.47, stop loss @ 92.94 Details

The technical summary data is suggesting a short of ESTC as it gets near 92.67 with a downside target of 74.47. We should have a stop loss in place at 92.94though. 92.67 is the first level of resistance above 80.23, and by rule, any test of resistance is a short signal. In this case, if resistance 92.67 is being tested, so a short signal would exist.

Swing Trading Plans for ESTC

• Buy ESTC slightly over 81.23, target 92.67, Stop Loss @ 81 Details

If 81.23 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 81.23, with an upside target of 92.67. The data also tells us to set a stop loss @ 81 in case the stock turns against the trade. 81.23 is the first level of resistance above 80.23, and by rule, any break above resistance is a buy signal. In this case, 81.23, 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 ESTC slightly near 81.23, target 78.04, Stop Loss @ 81.46. Details

The technical summary data is suggesting a short of ESTC if it tests 81.23 with a downside target of 78.04. We should have a stop loss in place at 81.46 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, 81.23, 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 ESTC

• Buy ESTC slightly over 80.4, target 81.23, Stop Loss @ 80.21 Details

If 80.4 begins to break higher, the technical summary data tells us to buy ESTC just slightly over 80.4, with an upside target of 81.23. The data also tells us to set a stop loss @ 80.21 in case the stock turns against the trade. 80.4 is the first level of resistance above 80.23, and by rule, any break above resistance is a buy signal. In this case, 80.4, 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 ESTC slightly near 80.4, target 78.04, Stop Loss @ 80.59. Details

The technical summary data is suggesting a short of ESTC if it tests 80.4 with a downside target of 78.04. We should have a stop loss in place at 80.59 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, 80.4, 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 Elastic N.v. (ESTC) available here: ESTC.

ESTC Ratings for November 01:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Weak
P1	0	0	74.47
P2	80.4	78.04	92.67
P3	82.16	81.23	112.27

AI Generated Signals for ESTC

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The technical pivots for Elastic N.v. (NASDAQ: ESTC) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ESTC change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ESTC is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ESTC too.  All of these are offered below the Summary Table.