(WFRD) Pivots Trading Plans and Risk Controls

December 29, 2023, 16:15 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WFRD

• Details
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Swing Trading Plans for WFRD

• Buy WFRD slightly over 101.29, target 105.08, Stop Loss @ 101 Details

If 101.29 begins to break higher, the technical summary data tells us to buy WFRD just slightly over 101.29, with an upside target of 105.08. The data also tells us to set a stop loss @ 101 in case the stock turns against the trade. 101.29 is the first level of resistance above 97.83, and by rule, any break above resistance is a buy signal. In this case, 101.29, 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 WFRD slightly near 101.29, target 97.83, Stop Loss @ 101.58. Details

The technical summary data is suggesting a short of WFRD if it tests 101.29 with a downside target of 97.83. We should have a stop loss in place at 101.58 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, 101.29, 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 WFRD

• Buy WFRD slightly over 99.8, target 101.29, Stop Loss @ 99.57 Details

If 99.8 begins to break higher, the technical summary data tells us to buy WFRD just slightly over 99.8, with an upside target of 101.29. The data also tells us to set a stop loss @ 99.57 in case the stock turns against the trade. 99.8 is the first level of resistance above 97.83, and by rule, any break above resistance is a buy signal. In this case, 99.8, 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 WFRD slightly near 99.8, target 97.83, Stop Loss @ 100.03. Details

The technical summary data is suggesting a short of WFRD if it tests 99.8 with a downside target of 97.83. We should have a stop loss in place at 100.03 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, 99.8, 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 Weatherford International Plc (WFRD) available here: WFRD.

WFRD Ratings for December 29:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	88.31
P2	99.8	101.29	97.83
P3	102.55	105.08	107.67

AI Generated Signals for WFRD

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This Weatherford International Plc (NASDAQ: WFRD) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with 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 WFRD 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 WFRD 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 WFRD too.  All of these are offered below the Summary Table.