Trend Tracker for (PSIL)

December 20, 2024, 14:40 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for PSIL

• Buy PSIL near 9.36 target 11.96 stop loss @ 9.33 Details

The technical summary data tells us to buy PSIL near 9.36 with an upside target of 11.96. This data also tells us to set a stop loss @ 9.33 to protect against excessive loss in case the stock begins to move against the trade. 9.36 is the first level of support below 10.55 , and by rule, any test of support is a buy signal. In this case, support 9.36 is being tested, a buy signal would exist.

• Short PSIL slightly under 11.96, target 9.36, stop loss @ 11.99 Details

The technical summary data is suggesting a short of PSIL as it gets near 11.96 with a downside target of 9.36. We should have a stop loss in place at 11.99though. 11.96 is the first level of resistance above 10.55, and by rule, any test of resistance is a short signal. In this case, if resistance 11.96 is being tested, a short signal would exist.

Swing Trading Plans for PSIL

• Buy PSIL slightly over 10.59, target 10.93, Stop Loss @ 10.56 Details

If 10.59 begins to break higher, the technical summary data tells us to buy PSIL just slightly over 10.59, with an upside target of 10.93. The data also tells us to set a stop loss @ 10.56 in case the stock turns against the trade. 10.59 is the first level of resistance above 10.55, and by rule, any break above resistance is a buy signal. In this case, 10.59, 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 PSIL slightly near 10.59, target 9.36, Stop Loss @ 10.62. Details

The technical summary data is suggesting a short of PSIL if it tests 10.59 with a downside target of 9.36. We should have a stop loss in place at 10.62 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, 10.59, 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 PSIL

• Buy PSIL slightly over 10.59, target 10.95, Stop Loss @ 10.57 Details

If 10.59 begins to break higher, the technical summary data tells us to buy PSIL just slightly over 10.59, with an upside target of 10.95. The data also tells us to set a stop loss @ 10.57 in case the stock turns against the trade. 10.59 is the first level of resistance above 10.55, and by rule, any break above resistance is a buy signal. In this case, 10.59, 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 PSIL slightly near 10.59, target 9.36, Stop Loss @ 10.61. Details

The technical summary data is suggesting a short of PSIL if it tests 10.59 with a downside target of 9.36. We should have a stop loss in place at 10.61 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, 10.59, 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 Advisorshares Psychedelics Etf (PSIL) available here: PSIL.

PSIL Ratings for December 20:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	7.11
P2	10.58	10.59	9.36
P3	10.95	10.93	11.96

AI Generated Signals for PSIL

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The data for Advisorshares Psychedelics Etf (NASDAQ: PSIL) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for PSIL 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 PSIL 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 PSIL too.  All of these are offered below the Summary Table.