(PENG) Trading Report

November 18, 2024, 23:24 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for PENG

• Buy PENG near 16.28 target 19.87 stop loss @ 16.23 Details

The technical summary data tells us to buy PENG near 16.28 with an upside target of 19.87. This data also tells us to set a stop loss @ 16.23 to protect against excessive loss in case the stock begins to move against the trade. 16.28 is the first level of support below 16.78 , and by rule, any test of support is a buy signal. In this case, support 16.28 would be being tested, so a buy signal would exist.

• Short PENG slightly under 19.87, target 16.28, stop loss @ 19.93 Details

The technical summary data is suggesting a short of PENG as it gets near 19.87 with a downside target of 16.28. We should have a stop loss in place at 19.93though. 19.87 is the first level of resistance above 16.78, and by rule, any test of resistance is a short signal. In this case, if resistance 19.87 is being tested, so a short signal would exist.

Swing Trading Plans for PENG

• Buy PENG slightly over 17.84, target 19.87, Stop Loss @ 17.79 Details

If 17.84 begins to break higher, the technical summary data tells us to buy PENG just slightly over 17.84, with an upside target of 19.87. The data also tells us to set a stop loss @ 17.79 in case the stock turns against the trade. 17.84 is the first level of resistance above 16.78, and by rule, any break above resistance is a buy signal. In this case, 17.84, 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 PENG slightly near 17.84, target 16.61, Stop Loss @ 17.89. Details

The technical summary data is suggesting a short of PENG if it tests 17.84 with a downside target of 16.61. We should have a stop loss in place at 17.89 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, 17.84, 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 PENG

• Buy PENG slightly over 16.86, target 17.84, Stop Loss @ 16.82 Details

If 16.86 begins to break higher, the technical summary data tells us to buy PENG just slightly over 16.86, with an upside target of 17.84. The data also tells us to set a stop loss @ 16.82 in case the stock turns against the trade. 16.86 is the first level of resistance above 16.78, and by rule, any break above resistance is a buy signal. In this case, 16.86, 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 PENG slightly near 16.86, target 16.61, Stop Loss @ 16.9. Details

The technical summary data is suggesting a short of PENG if it tests 16.86 with a downside target of 16.61. We should have a stop loss in place at 16.9 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, 16.86, 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 Smart Global Holdings Inc. (PENG) available here: PENG.

PENG Ratings for November 18:

Term →	Near	Mid	Long
Rating	Weak	Strong	Neutral
P1	0	0	16.28
P2	16.21	16.61	19.87
P3	16.86	17.84	24.08

AI Generated Signals for PENG

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Smart Global Holdings Inc. (NASDAQ: PENG) while incorporating prudent risk controls. 

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for PENG change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if PENG is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for PENG too.  All of these are offered below the Summary Table.