How the price action of New Residential Investment (NRZ) is used to our Advantage

July 11, 2022, 11:00 am ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  New Residential Investment (NYSE: NRZ) data table below can help you with price action, and we have more details too. Trading plans for NRZ are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for NRZ

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short NRZ under 9.62, target n/a, stop loss @ 9.65 Details

The technical summary data is suggesting a short of NRZ as it gets near 9.62, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 9.65. 9.62 is the first level of resistance above 9.62, and by rule, any test of resistance is a short signal. In this case, if resistance 9.62 is being tested, so a short signal would exist.

Swing Trading Plans for NRZ

• Buy NRZ slightly over 9.99, target 10.62, Stop Loss @ 9.96 Details

If 9.99 begins to break higher, the technical summary data tells us to buy NRZ just slightly over 9.99, with an upside target of 10.62. The data also tells us to set a stop loss @ 9.96 in case the stock turns against the trade. 9.99 is the first level of resistance above 9.62, and by rule, any break above resistance is a buy signal. In this case, 9.99, 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 NRZ near 9.99, target 9.62, Stop Loss @ 10.02. Details

The technical summary data is suggesting a short of NRZ if it tests 9.99 with a downside target of 9.62. We should have a stop loss in place at 10.02 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, 9.99, 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 NRZ

• Buy NRZ slightly over 9.67, target 9.99, Stop Loss @ 9.65 Details

If 9.67 begins to break higher, the technical summary data tells us to buy NRZ just slightly over 9.67, with an upside target of 9.99. The data also tells us to set a stop loss @ 9.65 in case the stock turns against the trade. 9.67 is the first level of resistance above 9.62, and by rule, any break above resistance is a buy signal. In this case, 9.67, 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 NRZ near 9.67, target n/a, Stop Loss @ 9.69. Details

The technical summary data is suggesting a short of NRZ if it tests 9.67 with a downside target of n/a. We should have a stop loss in place at 9.69 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, 9.67, 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.

NRZ Ratings for July 11:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	9.62
P2	9.44	9.37	10.62
P3	9.67	9.99	11.51

Support and Resistance Plot Chart for NRZ

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