How the price action of Brown-forman (BF.B) is used to our Advantage

July 04, 2022, 01:15 am ET, BY Tom 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  Brown-forman (NASDAQ: BF.B) data table below can help you with price action, and we have more details too. Trading plans for BF.B 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 BF.B

• Buy BF.B slightly over 68.95 target n/a stop loss @ 68.75. Details

The technical summary data tells us to buy BF.B near 68.95, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 68.75 to protect against excessive loss in case the stock begins to move against the trade. 68.95 is the first level of support below 71.57, and by rule, any test of support is a buy signal. In this case, if support 68.95 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for BF.B

• Buy BF.B slightly over 73.64, target n/a, Stop Loss @ 73.43 Details

If 73.64 begins to break higher, the technical summary data tells us to buy BF.B just slightly over 73.64, with an upside target of n/a. The data also tells us to set a stop loss @ 73.43 in case the stock turns against the trade. 73.64 is the first level of resistance above 71.57, and by rule, any break above resistance is a buy signal. In this case, 73.64, 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 BF.B near 73.64, target 71.15, Stop Loss @ 73.85. Details

The technical summary data is suggesting a short of BF.B if it tests 73.64 with a downside target of 71.15. We should have a stop loss in place at 73.85 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, 73.64, 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.

Day Trading Plans for BF.B

• Buy BF.B slightly over 71.92, target 73.64, Stop Loss @ 71.75 Details

If 71.92 begins to break higher, the technical summary data tells us to buy BF.B just slightly over 71.92, with an upside target of 73.64. The data also tells us to set a stop loss @ 71.75 in case the stock turns against the trade. 71.92 is the first level of resistance above 71.57, and by rule, any break above resistance is a buy signal. In this case, 71.92, 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 BF.B near 71.92, target 71.15, Stop Loss @ 72.09. Details

The technical summary data is suggesting a short of BF.B if it tests 71.92 with a downside target of 71.15. We should have a stop loss in place at 72.09 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, 71.92, 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.

BF.B Ratings for July 04:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	61.25
P2	70.23	71.15	65.01
P3	71.92	73.64	68.95

Support and Resistance Plot Chart for BF.B

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