How the (CGNX) price action is used to our Advantage
February 17, 2024, 04:48 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CGNX
- Buy CGNX slightly over 37.52 target 43.28 stop loss @ 37.41 Details
The technical summary data tells us to buy CGNX near 37.52 with an upside target of 43.28. This data also tells us to set a stop loss @ 37.41 to protect against excessive loss in case the stock begins to move against the trade. 37.52 is the first level of support below 38.13 , and by rule, any test of support is a buy signal. In this case, support 37.52 is being tested, a buy signal would exist.
- Short CGNX slightly under 43.28, target 37.52, stop loss @ 43.4 Details
The technical summary data is suggesting a short of CGNX as it gets near 43.28 with a downside target of 37.52. We should have a stop loss in place at 43.4though. 43.28 is the first level of resistance above 38.13, and by rule, any test of resistance is a short signal. In this case, if resistance 43.28 is being tested, a short signal would exist.
Swing Trading Plans for CGNX
- Buy CGNX slightly over 43.28, target n/a, Stop Loss @ 43.16 Details
If 43.28 begins to break higher, the technical summary data tells us to buy CGNX just slightly over 43.28, with an upside target of n/a. The data also tells us to set a stop loss @ 43.16 in case the stock turns against the trade. 43.28 is the first level of resistance above 38.13, and by rule, any break above resistance is a buy signal. In this case, 43.28, 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 CGNX slightly near 43.28, target 37.97, Stop Loss @ 43.4. Details
The technical summary data is suggesting a short of CGNX if it tests 43.28 with a downside target of 37.97. We should have a stop loss in place at 43.4 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, 43.28, 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 CGNX
- Buy CGNX slightly over 38.68, target 43.28, Stop Loss @ 38.59 Details
If 38.68 begins to break higher, the technical summary data tells us to buy CGNX just slightly over 38.68, with an upside target of 43.28. The data also tells us to set a stop loss @ 38.59 in case the stock turns against the trade. 38.68 is the first level of resistance above 38.13, and by rule, any break above resistance is a buy signal. In this case, 38.68, 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 CGNX slightly near 38.68, target 37.97, Stop Loss @ 38.77. Details
The technical summary data is suggesting a short of CGNX if it tests 38.68 with a downside target of 37.97. We should have a stop loss in place at 38.77 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, 38.68, 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 Cognex Corporation (CGNX) available here: CGNX.
CGNX Ratings for February 17:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Weak |
| P1 |
0 |
0 |
31.92 |
| P2 |
36.29 |
35.83 |
37.52 |
| P3 |
38.68 |
37.97 |
43.28 |
AI Generated Signals for CGNX
Blue = Current Price
Red= Resistance
Green = Support
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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 Cognex Corporation (NASDAQ: CGNX) data table below can help you with price action, and we have more details too. Trading plans for CGNX 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.
Fundamental Charts for CGNX:
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