Trading Ecolab $ECL With Integrated Risk Controls

May 23, 2023, 19:45 pm ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ECL

• Buy ECL slightly over 159.19 target n/a stop loss @ 158.73. Details

The technical summary data tells us to buy ECL near 159.19, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 158.73 to protect against excessive loss in case the stock begins to move against the trade. 159.19 is the first level of support below 164.83, and by rule, any test of support is a buy signal. In this case, if support 159.19 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for ECL

• Buy ECL slightly over 170.70, target 174.66, Stop Loss @ 170.21 Details

If 170.70 begins to break higher, the technical summary data tells us to buy ECL just slightly over 170.70, with an upside target of 174.66. The data also tells us to set a stop loss @ 170.21 in case the stock turns against the trade. 170.70 is the first level of resistance above 164.83, and by rule, any break above resistance is a buy signal. In this case, 170.70, 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 ECL slightly near 170.70, target 159.19, Stop Loss @ 171.19. Details

The technical summary data is suggesting a short of ECL if it tests 170.70 with a downside target of 159.19. We should have a stop loss in place at 171.19 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, 170.70, 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 ECL

• Buy ECL slightly over 169.11, target 170.70, Stop Loss @ 168.72 Details

If 169.11 begins to break higher, the technical summary data tells us to buy ECL just slightly over 169.11, with an upside target of 170.70. The data also tells us to set a stop loss @ 168.72 in case the stock turns against the trade. 169.11 is the first level of resistance above 164.83, and by rule, any break above resistance is a buy signal. In this case, 169.11, 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 ECL slightly near 169.11, target 159.19, Stop Loss @ 169.5. Details

The technical summary data is suggesting a short of ECL if it tests 169.11 with a downside target of 159.19. We should have a stop loss in place at 169.5 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, 169.11, 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.

This is a snapshot. Real Time Updates are available on our ECL Page.

ECL Ratings for May 23:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	133.42
P2	169.11	170.70	146.89
P3	173.33	174.66	159.19

Support and Resistance Plot Chart for ECL

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Ecolab (NYSE: ECL) report below can help you, but we have more details too. The trading plans for ECL, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.