(SKYY) Technical Pivots with Risk Controls

October 24, 2024, 14:16 pm ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SKYY

• Buy SKYY near 101.26 target 107.16 stop loss @ 100.97 Details

The technical summary data tells us to buy SKYY near 101.26 with an upside target of 107.16. This data also tells us to set a stop loss @ 100.97 to protect against excessive loss in case the stock begins to move against the trade. 101.26 is the first level of support below 105.07 , and by rule, any test of support is a buy signal. In this case, support 101.26 is being tested, a buy signal would exist.

• Short SKYY slightly under 107.16, target 101.26, stop loss @ 107.47 Details

The technical summary data is suggesting a short of SKYY as it gets near 107.16 with a downside target of 101.26. We should have a stop loss in place at 107.47though. 107.16 is the first level of resistance above 105.07, and by rule, any test of resistance is a short signal. In this case, if resistance 107.16 is being tested, a short signal would exist.

Swing Trading Plans for SKYY

• Buy SKYY slightly over 105.21, target 107.16, Stop Loss @ 104.91 Details

If 105.21 begins to break higher, the technical summary data tells us to buy SKYY just slightly over 105.21, with an upside target of 107.16. The data also tells us to set a stop loss @ 104.91 in case the stock turns against the trade. 105.21 is the first level of resistance above 105.07, and by rule, any break above resistance is a buy signal. In this case, 105.21, 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 SKYY slightly near 105.21, target 101.26, Stop Loss @ 105.51. Details

The technical summary data is suggesting a short of SKYY if it tests 105.21 with a downside target of 101.26. We should have a stop loss in place at 105.51 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, 105.21, 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 SKYY

• Buy SKYY slightly over 105.21, target 105.52, Stop Loss @ 104.96 Details

If 105.21 begins to break higher, the technical summary data tells us to buy SKYY just slightly over 105.21, with an upside target of 105.52. The data also tells us to set a stop loss @ 104.96 in case the stock turns against the trade. 105.21 is the first level of resistance above 105.07, and by rule, any break above resistance is a buy signal. In this case, 105.21, 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 SKYY slightly near 105.21, target 104.17, Stop Loss @ 105.46. Details

The technical summary data is suggesting a short of SKYY if it tests 105.21 with a downside target of 104.17. We should have a stop loss in place at 105.46 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, 105.21, 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 First Trust Ise Cloud Computing Index Fund (SKYY) available here: SKYY.

SKYY Ratings for October 24:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	94.98
P2	104.17	105.21	101.26
P3	105.52	107.7	107.16

AI Generated Signals for SKYY

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The technical pivots for First Trust Ise Cloud Computing Index Fund (NASDAQ: SKYY) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

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