(LITE) Trading Signals

October 23, 2024, 00:46 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LITE

• Buy LITE near 65.64 target n/a stop loss @ 65.45. Details

The technical summary data tells us to buy LITE near 65.64, 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 65.45 to protect against excessive loss in case the stock begins to move against the trade. 65.64 is the first level of support below 66.54, and by rule, any test of support is a buy signal. In this case, if support 65.64 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 LITE

• Buy LITE slightly over 68.65, target n/a, Stop Loss @ 68.45 Details

If 68.65 begins to break higher, the technical summary data tells us to buy LITE just slightly over 68.65, with an upside target of n/a. The data also tells us to set a stop loss @ 68.45 in case the stock turns against the trade. 68.65 is the first level of resistance above 66.54, and by rule, any break above resistance is a buy signal. In this case, 68.65, 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 LITE slightly near 68.65, target 65.64, Stop Loss @ 68.85. Details

The technical summary data is suggesting a short of LITE if it tests 68.65 with a downside target of 65.64. We should have a stop loss in place at 68.85 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, 68.65, 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 LITE

• Buy LITE slightly over 66.95, target 68.65, Stop Loss @ 66.79 Details

If 66.95 begins to break higher, the technical summary data tells us to buy LITE just slightly over 66.95, with an upside target of 68.65. The data also tells us to set a stop loss @ 66.79 in case the stock turns against the trade. 66.95 is the first level of resistance above 66.54, and by rule, any break above resistance is a buy signal. In this case, 66.95, 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 LITE slightly near 66.95, target 65.64, Stop Loss @ 67.11. Details

The technical summary data is suggesting a short of LITE if it tests 66.95 with a downside target of 65.64. We should have a stop loss in place at 67.11 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, 66.95, 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 Lumentum Holdings Inc. (LITE) available here: LITE.

LITE Ratings for October 23:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	48.87
P2	63.95	65.53	57.2
P3	66.95	68.65	65.64

AI Generated Signals for LITE

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Trading Lumentum Holdings Inc. (NASDAQ: LITE) can be efficient and rewarding, especially in volatile markets, so long as the important pivot points for the stock are observed before making decisions to buy, sell, or short.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LITE 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 LITE 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 LITE too.  All of these are offered below the Summary Table.