When the Price of (SMTC) Talks, People Listen

September 17, 2024, 05:00 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SMTC

• Buy SMTC slightly over 38.82 target 46.34 stop loss @ 38.71 Details

The technical summary data tells us to buy SMTC near 38.82 with an upside target of 46.34. This data also tells us to set a stop loss @ 38.71 to protect against excessive loss in case the stock begins to move against the trade. 38.82 is the first level of support below 40.06 , and by rule, any test of support is a buy signal. In this case, support 38.82 is being tested, a buy signal would exist.

• Short SMTC slightly under 46.34, target 38.82, stop loss @ 46.47 Details

The technical summary data is suggesting a short of SMTC as it gets near 46.34 with a downside target of 38.82. We should have a stop loss in place at 46.47though. 46.34 is the first level of resistance above 40.06, and by rule, any test of resistance is a short signal. In this case, if resistance 46.34 is being tested, a short signal would exist.

Swing Trading Plans for SMTC

• Buy SMTC slightly over 40.81, target 46.34, Stop Loss @ 40.69 Details

If 40.81 begins to break higher, the technical summary data tells us to buy SMTC just slightly over 40.81, with an upside target of 46.34. The data also tells us to set a stop loss @ 40.69 in case the stock turns against the trade. 40.81 is the first level of resistance above 40.06, and by rule, any break above resistance is a buy signal. In this case, 40.81, 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 SMTC slightly near 40.81, target 38.82, Stop Loss @ 40.93. Details

The technical summary data is suggesting a short of SMTC if it tests 40.81 with a downside target of 38.82. We should have a stop loss in place at 40.93 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, 40.81, 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 SMTC

• Buy SMTC slightly over 40.36, target 40.81, Stop Loss @ 40.27 Details

If 40.36 begins to break higher, the technical summary data tells us to buy SMTC just slightly over 40.36, with an upside target of 40.81. The data also tells us to set a stop loss @ 40.27 in case the stock turns against the trade. 40.36 is the first level of resistance above 40.06, and by rule, any break above resistance is a buy signal. In this case, 40.36, 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 SMTC slightly near 40.36, target 38.82, Stop Loss @ 40.45. Details

The technical summary data is suggesting a short of SMTC if it tests 40.36 with a downside target of 38.82. We should have a stop loss in place at 40.45 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, 40.36, 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 Semtech Corporation (SMTC) available here: SMTC.

SMTC Ratings for September 17:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	31.86
P2	40.36	38.28	38.82
P3	41.86	40.81	46.34

AI Generated Signals for SMTC

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Semtech Corporation (NASDAQ: SMTC) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for SMTC can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.