How the price action of Slack Technologies Inc (WORK) is used to our Advantage

June 28, 2021, 12:15 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Slack Technologies Inc (NASDAQ: WORK) data table below can help you with price action, and we have more details too. Trading plans for WORK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for WORK

• Buy WORK slightly over 41.41 target 45.66 stop loss @ 41.29 Details

The technical summary data tells us to buy WORK near 41.41 with an upside target of 45.66. This data also tells us to set a stop loss @ 41.29 to protect against excessive loss in case the stock begins to move against the trade. 41.41 is the first level of support below 44.54 , and by rule, any test of support is a buy signal. In this case, support 41.41 would be being tested, so a buy signal would exist.

• Short WORK under 45.66, target 41.41, stop loss @ 45.79 Details

The technical summary data is suggesting a short of WORK as it gets near 45.66 with a downside target of 41.41. We should have a stop loss in place at 45.79though. 45.66 is the first level of resistance above 44.54, and by rule, any test of resistance is a short signal. In this case, if resistance 45.66 is being tested, so a short signal would exist.

Swing Trading Plans for WORK

• Buy WORK slightly over 45.66, target 49.46, Stop Loss @ 45.53 Details

If 45.66 begins to break higher, the technical summary data tells us to buy WORK just slightly over 45.66, with an upside target of 49.46. The data also tells us to set a stop loss @ 45.53 in case the stock turns against the trade. 45.66 is the first level of resistance above 44.54, and by rule, any break above resistance is a buy signal. In this case, 45.66, 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 WORK near 45.66, target 44.45, Stop Loss @ 45.79. Details

The technical summary data is suggesting a short of WORK if it tests 45.66 with a downside target of 44.45. We should have a stop loss in place at 45.79 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, 45.66, 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 WORK

• Buy WORK slightly over 45.66, target 49.46, Stop Loss @ 45.55 Details

If 45.66 begins to break higher, the technical summary data tells us to buy WORK just slightly over 45.66, with an upside target of 49.46. The data also tells us to set a stop loss @ 45.55 in case the stock turns against the trade. 45.66 is the first level of resistance above 44.54, and by rule, any break above resistance is a buy signal. In this case, 45.66, 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 WORK near 45.66, target 44.45, Stop Loss @ 45.77. Details

The technical summary data is suggesting a short of WORK if it tests 45.66 with a downside target of 44.45. We should have a stop loss in place at 45.77 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, 45.66, 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.

WORK Ratings for June 28:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	41.41
P2	43.93	43.95	45.66
P3	44.24	44.45	49.46

Support and Resistance Plot Chart for WORK

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.