When the Price of Cimarex Energy XEC Talks, People Listen

September 24, 2021, 16:45 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Cimarex Energy (NYSE: XEC) 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 XEC 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. 

Longer Term Trading Plans for XEC

• Buy XEC slightly over 78.46 target 88.49 stop loss @ 78.23 Details

The technical summary data tells us to buy XEC near 78.46 with an upside target of 88.49. This data also tells us to set a stop loss @ 78.23 to protect against excessive loss in case the stock begins to move against the trade. 78.46 is the first level of support below 81.39 , and by rule, any test of support is a buy signal. In this case, support 78.46 is being tested, a buy signal would exist.

• Short XEC under 88.49, target 78.46, stop loss @ 88.75 Details

The technical summary data is suggesting a short of XEC as it gets near 88.49 with a downside target of 78.46. We should have a stop loss in place at 88.75though. 88.49 is the first level of resistance above 81.39, and by rule, any test of resistance is a short signal. In this case, if resistance 88.49 is being tested, a short signal would exist.

Swing Trading Plans for XEC

• Buy XEC slightly over 88.49, target n/a, Stop Loss @ 88.23 Details

If 88.49 begins to break higher, the technical summary data tells us to buy XEC just slightly over 88.49, with an upside target of n/a. The data also tells us to set a stop loss @ 88.23 in case the stock turns against the trade. 88.49 is the first level of resistance above 81.39, and by rule, any break above resistance is a buy signal. In this case, 88.49, 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 XEC near 88.49, target 80.96, Stop Loss @ 88.75. Details

The technical summary data is suggesting a short of XEC if it tests 88.49 with a downside target of 80.96. We should have a stop loss in place at 88.75 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, 88.49, 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 XEC

• Buy XEC slightly over 88.49, target n/a, Stop Loss @ 88.28 Details

If 88.49 begins to break higher, the technical summary data tells us to buy XEC just slightly over 88.49, with an upside target of n/a. The data also tells us to set a stop loss @ 88.28 in case the stock turns against the trade. 88.49 is the first level of resistance above 81.39, and by rule, any break above resistance is a buy signal. In this case, 88.49, 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 XEC near 88.49, target 80.96, Stop Loss @ 88.7. Details

The technical summary data is suggesting a short of XEC if it tests 88.49 with a downside target of 80.96. We should have a stop loss in place at 88.7 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, 88.49, 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.

XEC Ratings for September 24:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	69.28
P2	77.40	77.88	78.46
P3	79.35	80.96	88.49

Support and Resistance Plot Chart for XEC

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