Trading (MORN) With Integrated Risk Controls

June 01, 2024, 15:42 pm ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MORN

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short MORN slightly under 297.1, target n/a, stop loss @ 297.96 Details

The technical summary data is suggesting a short of MORN as it gets near 297.1, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 297.96. 297.1 is the first level of resistance above 288.25, and by rule, any test of resistance is a short signal. In this case, if resistance 297.1 is being tested, so a short signal would exist.

Swing Trading Plans for MORN

• Buy MORN slightly over 290.43, target 297.1, Stop Loss @ 289.59 Details

If 290.43 begins to break higher, the technical summary data tells us to buy MORN just slightly over 290.43, with an upside target of 297.1. The data also tells us to set a stop loss @ 289.59 in case the stock turns against the trade. 290.43 is the first level of resistance above 288.25, and by rule, any break above resistance is a buy signal. In this case, 290.43, 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 MORN slightly near 290.43, target 284.56, Stop Loss @ 291.27. Details

The technical summary data is suggesting a short of MORN if it tests 290.43 with a downside target of 284.56. We should have a stop loss in place at 291.27 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, 290.43, 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 MORN

• Buy MORN slightly over 290.43, target 297.1, Stop Loss @ 289.75 Details

If 290.43 begins to break higher, the technical summary data tells us to buy MORN just slightly over 290.43, with an upside target of 297.1. The data also tells us to set a stop loss @ 289.75 in case the stock turns against the trade. 290.43 is the first level of resistance above 288.25, and by rule, any break above resistance is a buy signal. In this case, 290.43, 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 MORN slightly near 290.43, target 285.68, Stop Loss @ 291.11. Details

The technical summary data is suggesting a short of MORN if it tests 290.43 with a downside target of 285.68. We should have a stop loss in place at 291.11 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, 290.43, 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 Morningstar Inc. (MORN) available here: MORN.

MORN Ratings for June 01:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	297.1
P2	281.84	284.56	315.51
P3	285.68	290.43	333.54

AI Generated Signals for MORN

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Morningstar Inc. (NASDAQ: MORN) report below can help you, but we have more details too. The trading plans for MORN, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.