When the Price of (IWM) Talks, People Listen

July 18, 2024, 14:32 pm ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for IWM

• Buy IWM slightly over 208.18 target 220.43 stop loss @ 207.58 Details

The technical summary data tells us to buy IWM near 208.18 with an upside target of 220.43. This data also tells us to set a stop loss @ 207.58 to protect against excessive loss in case the stock begins to move against the trade. 208.18 is the first level of support below 218.22 , and by rule, any test of support is a buy signal. In this case, support 208.18 is being tested, a buy signal would exist.

• Short IWM slightly under 220.43, target 208.18, stop loss @ 221.07 Details

The technical summary data is suggesting a short of IWM as it gets near 220.43 with a downside target of 208.18. We should have a stop loss in place at 221.07though. 220.43 is the first level of resistance above 218.22, and by rule, any test of resistance is a short signal. In this case, if resistance 220.43 is being tested, a short signal would exist.

Swing Trading Plans for IWM

• Buy IWM slightly over 220.43, target 225.29, Stop Loss @ 219.79 Details

If 220.43 begins to break higher, the technical summary data tells us to buy IWM just slightly over 220.43, with an upside target of 225.29. The data also tells us to set a stop loss @ 219.79 in case the stock turns against the trade. 220.43 is the first level of resistance above 218.22, and by rule, any break above resistance is a buy signal. In this case, 220.43, 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 IWM slightly near 220.43, target 216.85, Stop Loss @ 221.07. Details

The technical summary data is suggesting a short of IWM if it tests 220.43 with a downside target of 216.85. We should have a stop loss in place at 221.07 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, 220.43, 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 IWM

• Buy IWM slightly over 220.43, target 224.04, Stop Loss @ 219.92 Details

If 220.43 begins to break higher, the technical summary data tells us to buy IWM just slightly over 220.43, with an upside target of 224.04. The data also tells us to set a stop loss @ 219.92 in case the stock turns against the trade. 220.43 is the first level of resistance above 218.22, and by rule, any break above resistance is a buy signal. In this case, 220.43, 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 IWM slightly near 220.43, target 216.85, Stop Loss @ 220.94. Details

The technical summary data is suggesting a short of IWM if it tests 220.43 with a downside target of 216.85. We should have a stop loss in place at 220.94 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, 220.43, 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 Ishares Russell 2000 Etf (IWM) available here: IWM.

IWM Ratings for July 18:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	195.52
P2	224.04	216.85	208.18
P3	227.31	225.29	220.43

AI Generated Signals for IWM

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Ishares Russell 2000 Etf (NYSE: IWM) 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 IWM 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.