(WSM) Trading Report

July 29, 2024, 12:14 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WSM

• Buy WSM slightly over 144.56 target 161.8 stop loss @ 144.14 Details

The technical summary data tells us to buy WSM near 144.56 with an upside target of 161.8. This data also tells us to set a stop loss @ 144.14 to protect against excessive loss in case the stock begins to move against the trade. 144.56 is the first level of support below 153.47 , and by rule, any test of support is a buy signal. In this case, support 144.56 would be being tested, so a buy signal would exist.

• Short WSM slightly under 161.8, target 144.56, stop loss @ 162.27 Details

The technical summary data is suggesting a short of WSM as it gets near 161.8 with a downside target of 144.56. We should have a stop loss in place at 162.27though. 161.8 is the first level of resistance above 153.47, and by rule, any test of resistance is a short signal. In this case, if resistance 161.8 is being tested, so a short signal would exist.

Swing Trading Plans for WSM

• Buy WSM slightly over 155.85, target 161.8, Stop Loss @ 155.4 Details

If 155.85 begins to break higher, the technical summary data tells us to buy WSM just slightly over 155.85, with an upside target of 161.8. The data also tells us to set a stop loss @ 155.4 in case the stock turns against the trade. 155.85 is the first level of resistance above 153.47, and by rule, any break above resistance is a buy signal. In this case, 155.85, 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 WSM slightly near 155.85, target 147.13, Stop Loss @ 156.3. Details

The technical summary data is suggesting a short of WSM if it tests 155.85 with a downside target of 147.13. We should have a stop loss in place at 156.3 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, 155.85, 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 WSM

• Buy WSM slightly over 155.85, target 156.15, Stop Loss @ 155.49 Details

If 155.85 begins to break higher, the technical summary data tells us to buy WSM just slightly over 155.85, with an upside target of 156.15. The data also tells us to set a stop loss @ 155.49 in case the stock turns against the trade. 155.85 is the first level of resistance above 153.47, and by rule, any break above resistance is a buy signal. In this case, 155.85, 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 WSM slightly near 155.85, target 150.63, Stop Loss @ 156.21. Details

The technical summary data is suggesting a short of WSM if it tests 155.85 with a downside target of 150.63. We should have a stop loss in place at 156.21 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, 155.85, 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 Williams-sonoma Inc. (de) (WSM) available here: WSM.

WSM Ratings for July 29:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	144.56
P2	150.63	147.13	161.8
P3	156.15	155.85	179.66

AI Generated Signals for WSM

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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 Williams-sonoma Inc. (de) (NYSE: WSM) 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 WSM change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if WSM 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 WSM too.  All of these are offered below the Summary Table.