When (SLX) Moves Investors should Listen
March 15, 2024, 16:48 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SLX
- Buy SLX slightly over 67.03 target 70.8 stop loss @ 66.84 Details
The technical summary data tells us to buy SLX near 67.03 with an upside target of 70.8. This data also tells us to set a stop loss @ 66.84 to protect against excessive loss in case the stock begins to move against the trade. 67.03 is the first level of support below 69.1558 , and by rule, any test of support is a buy signal. In this case, support 67.03 would be being tested, so a buy signal would exist.
- Short SLX slightly under 70.8, target 67.03, stop loss @ 71 Details
The technical summary data is suggesting a short of SLX as it gets near 70.8 with a downside target of 67.03. We should have a stop loss in place at 71though. 70.8 is the first level of resistance above 69.1558, and by rule, any test of resistance is a short signal. In this case, if resistance 70.8 is being tested, so a short signal would exist.
Swing Trading Plans for SLX
- Buy SLX slightly over 70.4, target 70.8, Stop Loss @ 70.2 Details
If 70.4 begins to break higher, the technical summary data tells us to buy SLX just slightly over 70.4, with an upside target of 70.8. The data also tells us to set a stop loss @ 70.2 in case the stock turns against the trade. 70.4 is the first level of resistance above 69.1558, and by rule, any break above resistance is a buy signal. In this case, 70.4, 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 SLX slightly near 70.4, target 69.13, Stop Loss @ 70.6. Details
The technical summary data is suggesting a short of SLX if it tests 70.4 with a downside target of 69.13. We should have a stop loss in place at 70.6 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, 70.4, 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 SLX
- Buy SLX slightly over 69.55, target 70.4, Stop Loss @ 69.39 Details
If 69.55 begins to break higher, the technical summary data tells us to buy SLX just slightly over 69.55, with an upside target of 70.4. The data also tells us to set a stop loss @ 69.39 in case the stock turns against the trade. 69.55 is the first level of resistance above 69.1558, and by rule, any break above resistance is a buy signal. In this case, 69.55, 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 SLX slightly near 69.55, target 69.13, Stop Loss @ 69.71. Details
The technical summary data is suggesting a short of SLX if it tests 69.55 with a downside target of 69.13. We should have a stop loss in place at 69.71 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, 69.55, 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 Vaneck Steel Etf (SLX) available here: SLX.
SLX Ratings for March 15:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Strong |
| P1 |
0 |
0 |
67.03 |
| P2 |
68.5 |
69.13 |
70.8 |
| P3 |
69.55 |
70.4 |
74.47 |
AI Generated Signals for SLX
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Vaneck Steel Etf (NYSE: SLX) report below is a real world example. Included are trading plans for SLX, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SLX:
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