Trading Cathay General Bancorp CATY With Integrated Risk Controls

Source: Stock Traders Daily

Longer Term Trading Plans for CATY
  • Buy CATY over 39.09 target 43.07 stop loss @ 38.98 Details
  • The technical summary data tells us to buy CATY near 39.09 with an upside target of 43.07. This data also tells us to set a stop loss @ 38.98 to protect against excessive loss in case the stock begins to move against the trade. 39.09 is the first level of support below 42.06 , and by rule, any test of support is a buy signal. In this case, support 39.09 would be being tested, so a buy signal would exist.

  • Short CATY under 43.07, target 39.09, stop loss @ 43.19 Details
  • The technical summary data is suggesting a short of CATY as it gets near 43.07 with a downside target of 39.09. We should have a stop loss in place at 43.19though. 43.07 is the first level of resistance above 42.06, and by rule, any test of resistance is a short signal. In this case, if resistance 43.07 is being tested, so a short signal would exist.

Swing Trading Plans for CATY
  • Buy CATY over 43.07, target 47.27, Stop Loss @ 42.95 Details
  • If 43.07 begins to break higher, the technical summary data tells us to buy CATY just over 43.07, with an upside target of 47.27. The data also tells us to set a stop loss @ 42.95 in case the stock turns against the trade. 43.07 is the first level of resistance above 42.06, and by rule, any break above resistance is a buy signal. In this case, 43.07, 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 CATY near 43.07, target 41.46, Stop Loss @ 43.19. Details
  • The technical summary data is suggesting a short of CATY if it tests 43.07 with a downside target of 41.46. We should have a stop loss in place at 43.19 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, 43.07, 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 CATY
  • Buy CATY over 42.29, target 43.07, Stop Loss @ 42.19 Details
  • If 42.29 begins to break higher, the technical summary data tells us to buy CATY just over 42.29, with an upside target of 43.07. The data also tells us to set a stop loss @ 42.19 in case the stock turns against the trade. 42.29 is the first level of resistance above 42.06, and by rule, any break above resistance is a buy signal. In this case, 42.29, 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 CATY near 42.29, target 41.62, Stop Loss @ 42.39. Details
  • The technical summary data is suggesting a short of CATY if it tests 42.29 with a downside target of 41.62. We should have a stop loss in place at 42.39 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, 42.29, 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.

CATY Ratings for August 06:

Term →Near Mid Long
Rating Strong Neutral Neutral
P1 0 0 39.09
P2 41.62 41.46 43.07
P3 42.29 42.92 47.27

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CATY Long Term Analysis for August 6 2022


CATY Swing Trading Analysis for August 6 2022


CATY Day Trading Analysis for August 6 2022

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