How the (SCSC) price action is used to our Advantage
October 08, 2024, 17:10 pm ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SCSC
- Buy SCSC near 45.73 target 50.22 stop loss @ 45.6 Details
The technical summary data tells us to buy SCSC near 45.73 with an upside target of 50.22. This data also tells us to set a stop loss @ 45.6 to protect against excessive loss in case the stock begins to move against the trade. 45.73 is the first level of support below 48.41 , and by rule, any test of support is a buy signal. In this case, support 45.73 would be being tested, so a buy signal would exist.
- Short SCSC slightly under 50.22, target 45.73, stop loss @ 50.37 Details
The technical summary data is suggesting a short of SCSC as it gets near 50.22 with a downside target of 45.73. We should have a stop loss in place at 50.37though. 50.22 is the first level of resistance above 48.41, and by rule, any test of resistance is a short signal. In this case, if resistance 50.22 is being tested, so a short signal would exist.
Swing Trading Plans for SCSC
- Buy SCSC slightly over 50.22, target 54.61, Stop Loss @ 50.07 Details
If 50.22 begins to break higher, the technical summary data tells us to buy SCSC just slightly over 50.22, with an upside target of 54.61. The data also tells us to set a stop loss @ 50.07 in case the stock turns against the trade. 50.22 is the first level of resistance above 48.41, and by rule, any break above resistance is a buy signal. In this case, 50.22, 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 SCSC slightly near 50.22, target 47.26, Stop Loss @ 50.37. Details
The technical summary data is suggesting a short of SCSC if it tests 50.22 with a downside target of 47.26. We should have a stop loss in place at 50.37 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, 50.22, 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 SCSC
- Buy SCSC slightly over 50.22, target 54.61, Stop Loss @ 50.1 Details
If 50.22 begins to break higher, the technical summary data tells us to buy SCSC just slightly over 50.22, with an upside target of 54.61. The data also tells us to set a stop loss @ 50.1 in case the stock turns against the trade. 50.22 is the first level of resistance above 48.41, and by rule, any break above resistance is a buy signal. In this case, 50.22, 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 SCSC slightly near 50.22, target 47.41, Stop Loss @ 50.34. Details
The technical summary data is suggesting a short of SCSC if it tests 50.22 with a downside target of 47.41. We should have a stop loss in place at 50.34 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, 50.22, 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 Scansource Inc. (SCSC) available here: SCSC.
SCSC Ratings for October 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Strong |
| P1 |
0 |
0 |
45.73 |
| P2 |
46.39 |
45.74 |
50.22 |
| P3 |
47.41 |
47.26 |
54.61 |
AI Generated Signals for SCSC
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 Scansource Inc. (NASDAQ: SCSC) data table below can help you with price action, and we have more details too. Trading plans for SCSC 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 SCSC:
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