When Meredith (MDP) Moves Investors should Listen

November 28, 2021, 19:45 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Meredith (NYSE: MDP) report below is a real world example. Included are trading plans for MDP, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for MDP

• Buy MDP slightly over 56.87 target 61.45 stop loss @ 56.71 Details

The technical summary data tells us to buy MDP near 56.87 with an upside target of 61.45. This data also tells us to set a stop loss @ 56.71 to protect against excessive loss in case the stock begins to move against the trade. 56.87 is the first level of support below 59 , and by rule, any test of support is a buy signal. In this case, support 56.87 is being tested, a buy signal would exist.

• Short MDP under 61.45, target 56.87, stop loss @ 61.63 Details

The technical summary data is suggesting a short of MDP as it gets near 61.45 with a downside target of 56.87. We should have a stop loss in place at 61.63though. 61.45 is the first level of resistance above 59, and by rule, any test of resistance is a short signal. In this case, if resistance 61.45 is being tested, a short signal would exist.

Swing Trading Plans for MDP

• Buy MDP slightly over 59.23, target 61.45, Stop Loss @ 59.06 Details

If 59.23 begins to break higher, the technical summary data tells us to buy MDP just slightly over 59.23, with an upside target of 61.45. The data also tells us to set a stop loss @ 59.06 in case the stock turns against the trade. 59.23 is the first level of resistance above 59, and by rule, any break above resistance is a buy signal. In this case, 59.23, 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 MDP near 59.23, target 58.94, Stop Loss @ 59.4. Details

The technical summary data is suggesting a short of MDP if it tests 59.23 with a downside target of 58.94. We should have a stop loss in place at 59.4 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, 59.23, 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 MDP

• Buy MDP slightly over 59.01, target 59.23, Stop Loss @ 58.87 Details

If 59.01 begins to break higher, the technical summary data tells us to buy MDP just slightly over 59.01, with an upside target of 59.23. The data also tells us to set a stop loss @ 58.87 in case the stock turns against the trade. 59.01 is the first level of resistance above 59, and by rule, any break above resistance is a buy signal. In this case, 59.01, 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 MDP near 59.01, target 56.87, Stop Loss @ 59.15. Details

The technical summary data is suggesting a short of MDP if it tests 59.01 with a downside target of 56.87. We should have a stop loss in place at 59.15 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, 59.01, 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.

MDP Ratings for November 28:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	52.07
P2	59.01	58.94	56.87
P3	0	59.23	61.45

Support and Resistance Plot Chart for MDP

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