Trading (OFLX) With Integrated Risk Controls
June 23, 2024, 16:12 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for OFLX
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short OFLX slightly under 53.97, target n/a, stop loss @ 54.13 Details
The technical summary data is suggesting a short of OFLX as it gets near 53.97, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 54.13. 53.97 is the first level of resistance above 53.5, and by rule, any test of resistance is a short signal. In this case, if resistance 53.97 is being tested, so a short signal would exist.
Swing Trading Plans for OFLX
- Buy OFLX slightly over 53.97, target 55.04, Stop Loss @ 53.81 Details
If 53.97 begins to break higher, the technical summary data tells us to buy OFLX just slightly over 53.97, with an upside target of 55.04. The data also tells us to set a stop loss @ 53.81 in case the stock turns against the trade. 53.97 is the first level of resistance above 53.5, and by rule, any break above resistance is a buy signal. In this case, 53.97, 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 OFLX slightly near 53.97, target 53, Stop Loss @ 54.13. Details
The technical summary data is suggesting a short of OFLX if it tests 53.97 with a downside target of 53. We should have a stop loss in place at 54.13 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, 53.97, 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 OFLX
- Buy OFLX slightly over 53.97, target 54.24, Stop Loss @ 53.84 Details
If 53.97 begins to break higher, the technical summary data tells us to buy OFLX just slightly over 53.97, with an upside target of 54.24. The data also tells us to set a stop loss @ 53.84 in case the stock turns against the trade. 53.97 is the first level of resistance above 53.5, and by rule, any break above resistance is a buy signal. In this case, 53.97, 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 OFLX slightly near 53.97, target 53, Stop Loss @ 54.1. Details
The technical summary data is suggesting a short of OFLX if it tests 53.97 with a downside target of 53. We should have a stop loss in place at 54.1 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, 53.97, 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 Omega Flex Inc. (OFLX) available here: OFLX.
OFLX Ratings for June 23:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Weak |
| P1 |
0 |
0 |
53.97 |
| P2 |
52.8 |
53 |
61.06 |
| P3 |
54.24 |
55.04 |
67.97 |
AI Generated Signals for OFLX
Blue = Current Price
Red= Resistance
Green = Support
Real Time Updates for Repeat Institutional Readers:
Instructions:Click the Get Real Time Updates button below.
In the login prompt, select forgot username
Type the email you use for Factset
Use the user/pass you receive to login
You will have 24/7 access to real time updates.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
Our Market Crash Leading Indicator isEvitar Corte.
Evitar Corte warned of market crash risk four times since 2000.
It identified the Internet Debacle before it happened.
It identified the Credit Crisis before it happened.
It identified the Corona Crash too.
See what Evitar Corte is Saying Now.
Get Notified When our Ratings Change:Take a Trial
Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Omega Flex Inc. (NASDAQ: OFLX) report below can help you, but we have more details too. The trading plans for OFLX, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.
Fundamental Charts for OFLX:
pool ads
