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How the (SUM) price action is used to our Advantage

Longer Term Trading Plans for SUM
  • Buy SUM slightly over 37.84 target 41.4 stop loss @ 37.73 Details
  • The technical summary data tells us to buy SUM near 37.84 with an upside target of 41.4. This data also tells us to set a stop loss @ 37.73 to protect against excessive loss in case the stock begins to move against the trade. 37.84 is the first level of support below 38.26 , and by rule, any test of support is a buy signal. In this case, support 37.84 is being tested, a buy signal would exist.

  • Short SUM slightly under 41.4, target 37.84, stop loss @ 41.52 Details
  • The technical summary data is suggesting a short of SUM as it gets near 41.4 with a downside target of 37.84. We should have a stop loss in place at 41.52though. 41.4 is the first level of resistance above 38.26, and by rule, any test of resistance is a short signal. In this case, if resistance 41.4 is being tested, a short signal would exist.

Swing Trading Plans for SUM
  • Buy SUM slightly over 38.38, target 41.4, Stop Loss @ 38.27 Details
  • If 38.38 begins to break higher, the technical summary data tells us to buy SUM just slightly over 38.38, with an upside target of 41.4. The data also tells us to set a stop loss @ 38.27 in case the stock turns against the trade. 38.38 is the first level of resistance above 38.26, and by rule, any break above resistance is a buy signal. In this case, 38.38, 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 SUM slightly near 38.38, target 37.84, Stop Loss @ 38.49. Details
  • The technical summary data is suggesting a short of SUM if it tests 38.38 with a downside target of 37.84. We should have a stop loss in place at 38.49 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, 38.38, 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 SUM
  • Buy SUM slightly over 38.38, target 38.9, Stop Loss @ 38.29 Details
  • If 38.38 begins to break higher, the technical summary data tells us to buy SUM just slightly over 38.38, with an upside target of 38.9. The data also tells us to set a stop loss @ 38.29 in case the stock turns against the trade. 38.38 is the first level of resistance above 38.26, and by rule, any break above resistance is a buy signal. In this case, 38.38, 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 SUM slightly near 38.38, target 37.84, Stop Loss @ 38.47. Details
  • The technical summary data is suggesting a short of SUM if it tests 38.38 with a downside target of 37.84. We should have a stop loss in place at 38.47 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, 38.38, 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.

Real Time Updates are available on our  Summit Materials Inc. Class A (SUM) Page here: SUM.

SUM Ratings for February 13:

Term →Near Mid Long
Rating Strong Strong Strong
P1 0 0 34.28
P2 38.26 37.15 37.84
P3 38.9 38.38 41.4
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Support and Resistance Plot Chart for SUM

SUM Long Term Analysis for February 13 2024

Blue = Current Price
Red= Resistance
Green = Support

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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  Summit Materials Inc. Class A (NYSE: SUM) data table below can help you with price action, and we have more details too. Trading plans for SUM 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.