Scotts Miracle Gro SMG Pivots Trading Plans and Risk Controls

Source: Stock Traders Daily

Longer Term Trading Plans for SMG
  • Buy SMG slightly over 53.12 target 69.12 stop loss @ 52.97 Details
  • The technical summary data tells us to buy SMG near 53.12 with an upside target of 69.12. This data also tells us to set a stop loss @ 52.97 to protect against excessive loss in case the stock begins to move against the trade. 53.12 is the first level of support below 54 , and by rule, any test of support is a buy signal. In this case, support 53.12 would be being tested, so a buy signal would exist.

  • Short SMG under 69.12, target 53.12, stop loss @ 69.32 Details
  • The technical summary data is suggesting a short of SMG as it gets near 69.12 with a downside target of 53.12. We should have a stop loss in place at 69.32though. 69.12 is the first level of resistance above 54, and by rule, any test of resistance is a short signal. In this case, if resistance 69.12 is being tested, so a short signal would exist.

Swing Trading Plans for SMG
  • Buy SMG slightly over 56.04, target 69.12, Stop Loss @ 55.88 Details
  • If 56.04 begins to break higher, the technical summary data tells us to buy SMG just slightly over 56.04, with an upside target of 69.12. The data also tells us to set a stop loss @ 55.88 in case the stock turns against the trade. 56.04 is the first level of resistance above 54, and by rule, any break above resistance is a buy signal. In this case, 56.04, 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 SMG near 56.04, target 53.12, Stop Loss @ 56.2. Details
  • The technical summary data is suggesting a short of SMG if it tests 56.04 with a downside target of 53.12. We should have a stop loss in place at 56.2 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, 56.04, 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 SMG
  • Buy SMG slightly over 54.29, target 56.04, Stop Loss @ 54.16 Details
  • If 54.29 begins to break higher, the technical summary data tells us to buy SMG just slightly over 54.29, with an upside target of 56.04. The data also tells us to set a stop loss @ 54.16 in case the stock turns against the trade. 54.29 is the first level of resistance above 54, and by rule, any break above resistance is a buy signal. In this case, 54.29, 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 SMG near 54.29, target 53.12, Stop Loss @ 54.42. Details
  • The technical summary data is suggesting a short of SMG if it tests 54.29 with a downside target of 53.12. We should have a stop loss in place at 54.42 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, 54.29, 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.

SMG Ratings for September 19:

Term →Near Mid Long
Rating Weak Weak Weak
P1 0 0 53.12
P2 52.56 51.14 69.12
P3 54.29 56.04 86.30

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SMG Long Term Analysis for September 19 2022


SMG Swing Trading Analysis for September 19 2022


SMG Day Trading Analysis for September 19 2022

This Scotts Miracle Gro (NYSE: SMG) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SMG change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SMG 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 SMG too.  All of these are offered below the Summary Table.