Trading (SPXX) With Integrated Risk Controls
November 25, 2024, 22:14 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SPXX
- Buy SPXX near 17.07 target 17.51 stop loss @ 17.02 Details
The technical summary data tells us to buy SPXX near 17.07 with an upside target of 17.51. This data also tells us to set a stop loss @ 17.02 to protect against excessive loss in case the stock begins to move against the trade. 17.07 is the first level of support below 17.38 , and by rule, any test of support is a buy signal. In this case, support 17.07 is being tested, a buy signal would exist.
- Short SPXX slightly under 17.51, target 17.07, stop loss @ 17.56 Details
The technical summary data is suggesting a short of SPXX as it gets near 17.51 with a downside target of 17.07. We should have a stop loss in place at 17.56though. 17.51 is the first level of resistance above 17.38, and by rule, any test of resistance is a short signal. In this case, if resistance 17.51 is being tested, a short signal would exist.
Swing Trading Plans for SPXX
- Buy SPXX slightly over 17.51, target n/a, Stop Loss @ 17.46 Details
If 17.51 begins to break higher, the technical summary data tells us to buy SPXX just slightly over 17.51, with an upside target of n/a. The data also tells us to set a stop loss @ 17.46 in case the stock turns against the trade. 17.51 is the first level of resistance above 17.38, and by rule, any break above resistance is a buy signal. In this case, 17.51, 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 SPXX slightly near 17.51, target 17.15, Stop Loss @ 17.56. Details
The technical summary data is suggesting a short of SPXX if it tests 17.51 with a downside target of 17.15. We should have a stop loss in place at 17.56 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, 17.51, 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 SPXX
- Buy SPXX slightly over 17.51, target n/a, Stop Loss @ 17.47 Details
If 17.51 begins to break higher, the technical summary data tells us to buy SPXX just slightly over 17.51, with an upside target of n/a. The data also tells us to set a stop loss @ 17.47 in case the stock turns against the trade. 17.51 is the first level of resistance above 17.38, and by rule, any break above resistance is a buy signal. In this case, 17.51, 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 SPXX slightly near 17.51, target 17.15, Stop Loss @ 17.55. Details
The technical summary data is suggesting a short of SPXX if it tests 17.51 with a downside target of 17.15. We should have a stop loss in place at 17.55 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, 17.51, 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 Nuveen S&p 500 Dynamic Overwrite Fund (SPXX) available here: SPXX.
SPXX Ratings for November 25:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Strong |
| P1 |
0 |
0 |
16.6 |
| P2 |
17.44 |
17.15 |
17.07 |
| P3 |
0 |
17.36 |
17.51 |
AI Generated Signals for SPXX
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for SPXX:
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