When Allegheny Technologies (ATI) Moves Investors should Listen

October 02, 2022, 20:00 pm ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Allegheny Technologies (NYSE: ATI) report below is a real world example. Included are trading plans for ATI, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for ATI

• Buy ATI slightly over 25.88 target 30.36 stop loss @ 25.81 Details

The technical summary data tells us to buy ATI near 25.88 with an upside target of 30.36. This data also tells us to set a stop loss @ 25.81 to protect against excessive loss in case the stock begins to move against the trade. 25.88 is the first level of support below 26.61 , and by rule, any test of support is a buy signal. In this case, support 25.88 would be being tested, so a buy signal would exist.

• Short ATI slightly under 30.36, target 25.88, stop loss @ 30.45 Details

The technical summary data is suggesting a short of ATI as it gets near 30.36 with a downside target of 25.88. We should have a stop loss in place at 30.45though. 30.36 is the first level of resistance above 26.61, and by rule, any test of resistance is a short signal. In this case, if resistance 30.36 is being tested, so a short signal would exist.

Swing Trading Plans for ATI

• Buy ATI slightly over 27.94, target 30.36, Stop Loss @ 27.86 Details

If 27.94 begins to break higher, the technical summary data tells us to buy ATI just slightly over 27.94, with an upside target of 30.36. The data also tells us to set a stop loss @ 27.86 in case the stock turns against the trade. 27.94 is the first level of resistance above 26.61, and by rule, any break above resistance is a buy signal. In this case, 27.94, 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 ATI slightly near 27.94, target 26.40, Stop Loss @ 28.02. Details

The technical summary data is suggesting a short of ATI if it tests 27.94 with a downside target of 26.40. We should have a stop loss in place at 28.02 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, 27.94, 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 ATI

• Buy ATI slightly over 26.87, target 27.96, Stop Loss @ 26.81 Details

If 26.87 begins to break higher, the technical summary data tells us to buy ATI just slightly over 26.87, with an upside target of 27.96. The data also tells us to set a stop loss @ 26.81 in case the stock turns against the trade. 26.87 is the first level of resistance above 26.61, and by rule, any break above resistance is a buy signal. In this case, 26.87, 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 ATI slightly near 26.87, target 26.40, Stop Loss @ 26.93. Details

The technical summary data is suggesting a short of ATI if it tests 26.87 with a downside target of 26.40. We should have a stop loss in place at 26.93 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, 26.87, 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.

ATI Ratings for October 02:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	25.88
P2	26.87	26.40	30.36
P3	27.96	27.94	35.08

Support and Resistance Plot Chart for ATI

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