Trading Cathay General Bancorp CATY With Integrated Risk Controls
August 06, 2022, 03:00 am ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Cathay General Bancorp (NASDAQ: CATY) report below can help you, but we have more details too. The trading plans for CATY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.
Longer Term Trading Plans for CATY
- Buy CATY slightly 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 slightly 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 slightly 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 slightly 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 slightly 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 |
⚠Triggers may have already come
Support and Resistance Plot Chart for CATY
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for CATY: