Long Term Trading Analysis for (DY)

July 08, 2024, 18:12 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for DY

• Buy DY slightly over 163.86 target 181.71 stop loss @ 163.39 Details

The technical summary data tells us to buy DY near 163.86 with an upside target of 181.71. This data also tells us to set a stop loss @ 163.39 to protect against excessive loss in case the stock begins to move against the trade. 163.86 is the first level of support below 169.89 , and by rule, any test of support is a buy signal. In this case, support 163.86 is being tested, a buy signal would exist.

• Short DY slightly under 181.71, target 163.86, stop loss @ 182.23 Details

The technical summary data is suggesting a short of DY as it gets near 181.71 with a downside target of 163.86. We should have a stop loss in place at 182.23though. 181.71 is the first level of resistance above 169.89, and by rule, any test of resistance is a short signal. In this case, if resistance 181.71 is being tested, a short signal would exist.

Swing Trading Plans for DY

• Buy DY slightly over 172.57, target 181.71, Stop Loss @ 172.07 Details

If 172.57 begins to break higher, the technical summary data tells us to buy DY just slightly over 172.57, with an upside target of 181.71. The data also tells us to set a stop loss @ 172.07 in case the stock turns against the trade. 172.57 is the first level of resistance above 169.89, and by rule, any break above resistance is a buy signal. In this case, 172.57, 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 DY slightly near 172.57, target 168.29, Stop Loss @ 173.07. Details

The technical summary data is suggesting a short of DY if it tests 172.57 with a downside target of 168.29. We should have a stop loss in place at 173.07 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, 172.57, 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 DY

• Buy DY slightly over 170.64, target 172.57, Stop Loss @ 170.24 Details

If 170.64 begins to break higher, the technical summary data tells us to buy DY just slightly over 170.64, with an upside target of 172.57. The data also tells us to set a stop loss @ 170.24 in case the stock turns against the trade. 170.64 is the first level of resistance above 169.89, and by rule, any break above resistance is a buy signal. In this case, 170.64, 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 DY slightly near 170.64, target 168.29, Stop Loss @ 171.04. Details

The technical summary data is suggesting a short of DY if it tests 170.64 with a downside target of 168.29. We should have a stop loss in place at 171.04 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, 170.64, 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 Dycom Industries Inc. (DY) available here: DY.

DY Ratings for July 08:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	146.99
P2	170.64	168.29	163.86
P3	172.94	172.57	181.71

AI Generated Signals for DY

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Dycom Industries Inc. (NYSE: DY) while incorporating prudent risk controls.

Warning:

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