Trading Semtech $SMTC With Integrated Risk Controls
October 01, 2023, 02:00 am ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SMTC
- Buy SMTC slightly over 24.09 target 28.78 stop loss @ 24.02 Details
The technical summary data tells us to buy SMTC near 24.09 with an upside target of 28.78. This data also tells us to set a stop loss @ 24.02 to protect against excessive loss in case the stock begins to move against the trade. 24.09 is the first level of support below 25.75 , and by rule, any test of support is a buy signal. In this case, support 24.09 is being tested, a buy signal would exist.
- Short SMTC slightly under 28.78, target 24.09, stop loss @ 28.86 Details
The technical summary data is suggesting a short of SMTC as it gets near 28.78 with a downside target of 24.09. We should have a stop loss in place at 28.86though. 28.78 is the first level of resistance above 25.75, and by rule, any test of resistance is a short signal. In this case, if resistance 28.78 is being tested, a short signal would exist.
Swing Trading Plans for SMTC
- Buy SMTC slightly over 27.22, target 28.78, Stop Loss @ 27.14 Details
If 27.22 begins to break higher, the technical summary data tells us to buy SMTC just slightly over 27.22, with an upside target of 28.78. The data also tells us to set a stop loss @ 27.14 in case the stock turns against the trade. 27.22 is the first level of resistance above 25.75, and by rule, any break above resistance is a buy signal. In this case, 27.22, 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 SMTC slightly near 27.22, target 25.70, Stop Loss @ 27.3. Details
The technical summary data is suggesting a short of SMTC if it tests 27.22 with a downside target of 25.70. We should have a stop loss in place at 27.3 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, 27.22, 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 SMTC
- Buy SMTC slightly over 26.17, target 27.22, Stop Loss @ 26.11 Details
If 26.17 begins to break higher, the technical summary data tells us to buy SMTC just slightly over 26.17, with an upside target of 27.22. The data also tells us to set a stop loss @ 26.11 in case the stock turns against the trade. 26.17 is the first level of resistance above 25.75, and by rule, any break above resistance is a buy signal. In this case, 26.17, 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 SMTC slightly near 26.17, target 25.70, Stop Loss @ 26.23. Details
The technical summary data is suggesting a short of SMTC if it tests 26.17 with a downside target of 25.70. We should have a stop loss in place at 26.23 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, 26.17, 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 Semtech (SMTC) available here: SMTC.
SMTC Ratings for October 01:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Weak |
| P1 |
0 |
0 |
19.46 |
| P2 |
25.41 |
25.70 |
24.09 |
| P3 |
26.17 |
27.22 |
28.78 |
AI Generated Signals for SMTC
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for SMTC:
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