Trading (EFC) With Integrated Risk Controls
November 11, 2024, 22:24 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for EFC
- Buy EFC near 11.72 target 12.51 stop loss @ 11.69 Details
The technical summary data tells us to buy EFC near 11.72 with an upside target of 12.51. This data also tells us to set a stop loss @ 11.69 to protect against excessive loss in case the stock begins to move against the trade. 11.72 is the first level of support below 12.39 , and by rule, any test of support is a buy signal. In this case, support 11.72 would be being tested, so a buy signal would exist.
- Short EFC slightly under 12.51, target 11.72, stop loss @ 12.55 Details
The technical summary data is suggesting a short of EFC as it gets near 12.51 with a downside target of 11.72. We should have a stop loss in place at 12.55though. 12.51 is the first level of resistance above 12.39, and by rule, any test of resistance is a short signal. In this case, if resistance 12.51 is being tested, so a short signal would exist.
Swing Trading Plans for EFC
- Buy EFC slightly over 12.51, target 13.24, Stop Loss @ 12.47 Details
If 12.51 begins to break higher, the technical summary data tells us to buy EFC just slightly over 12.51, with an upside target of 13.24. The data also tells us to set a stop loss @ 12.47 in case the stock turns against the trade. 12.51 is the first level of resistance above 12.39, and by rule, any break above resistance is a buy signal. In this case, 12.51, 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 EFC slightly near 12.51, target 11.93, Stop Loss @ 12.55. Details
The technical summary data is suggesting a short of EFC if it tests 12.51 with a downside target of 11.93. We should have a stop loss in place at 12.55 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, 12.51, 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 EFC
- Buy EFC slightly over 12.51, target 12.78, Stop Loss @ 12.48 Details
If 12.51 begins to break higher, the technical summary data tells us to buy EFC just slightly over 12.51, with an upside target of 12.78. The data also tells us to set a stop loss @ 12.48 in case the stock turns against the trade. 12.51 is the first level of resistance above 12.39, and by rule, any break above resistance is a buy signal. In this case, 12.51, 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 EFC slightly near 12.51, target 11.93, Stop Loss @ 12.54. Details
The technical summary data is suggesting a short of EFC if it tests 12.51 with a downside target of 11.93. We should have a stop loss in place at 12.54 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, 12.51, 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 Ellington Financial Inc. (EFC) available here: EFC.
EFC Ratings for November 11:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
11.72 |
| P2 |
12.44 |
11.93 |
12.51 |
| P3 |
12.78 |
12.46 |
13.24 |
AI Generated Signals for EFC
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for EFC:
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