How the price action of Abm Industries ($ABM) is used to our Advantage
October 04, 2023, 05:30 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ABM
- 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 ABM slightly under 39.92, target n/a, stop loss @ 40.04 Details
The technical summary data is suggesting a short of ABM as it gets near 39.92, 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 40.04. 39.92 is the first level of resistance above 39.37, and by rule, any test of resistance is a short signal. In this case, if resistance 39.92 is being tested, so a short signal would exist.
Swing Trading Plans for ABM
- Buy ABM slightly over 39.98, target 43.39, Stop Loss @ 39.86 Details
If 39.98 begins to break higher, the technical summary data tells us to buy ABM just slightly over 39.98, with an upside target of 43.39. The data also tells us to set a stop loss @ 39.86 in case the stock turns against the trade. 39.98 is the first level of resistance above 39.37, and by rule, any break above resistance is a buy signal. In this case, 39.98, 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 ABM slightly near 39.98, target 38.91, Stop Loss @ 40.1. Details
The technical summary data is suggesting a short of ABM if it tests 39.98 with a downside target of 38.91. We should have a stop loss in place at 40.1 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, 39.98, 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 ABM
- Buy ABM slightly over 39.59, target 39.98, Stop Loss @ 39.5 Details
If 39.59 begins to break higher, the technical summary data tells us to buy ABM just slightly over 39.59, with an upside target of 39.98. The data also tells us to set a stop loss @ 39.5 in case the stock turns against the trade. 39.59 is the first level of resistance above 39.37, and by rule, any break above resistance is a buy signal. In this case, 39.59, 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 ABM slightly near 39.59, target 38.91, Stop Loss @ 39.68. Details
The technical summary data is suggesting a short of ABM if it tests 39.59 with a downside target of 38.91. We should have a stop loss in place at 39.68 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, 39.59, 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 Abm Industries (ABM) available here: ABM.
ABM Ratings for October 04:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Neutral |
| P1 |
0 |
0 |
39.92 |
| P2 |
39.59 |
38.91 |
43.39 |
| P3 |
40.39 |
39.98 |
46.65 |
AI Generated Signals for ABM
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 Abm Industries (NYSE: ABM) data table below can help you with price action, and we have more details too. Trading plans for ABM 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 ABM:
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