When (DRVN) Moves Investors should Listen
May 30, 2024, 10:08 am ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for DRVN
- Buy DRVN slightly over 10.34 target 14.74 stop loss @ 10.31 Details
The technical summary data tells us to buy DRVN near 10.34 with an upside target of 14.74. This data also tells us to set a stop loss @ 10.31 to protect against excessive loss in case the stock begins to move against the trade. 10.34 is the first level of support below 11.5 , and by rule, any test of support is a buy signal. In this case, support 10.34 is being tested, a buy signal would exist.
- Short DRVN slightly under 14.74, target 10.34, stop loss @ 14.78 Details
The technical summary data is suggesting a short of DRVN as it gets near 14.74 with a downside target of 10.34. We should have a stop loss in place at 14.78though. 14.74 is the first level of resistance above 11.5, and by rule, any test of resistance is a short signal. In this case, if resistance 14.74 is being tested, a short signal would exist.
Swing Trading Plans for DRVN
- Buy DRVN slightly over 11.57, target 14.74, Stop Loss @ 11.54 Details
If 11.57 begins to break higher, the technical summary data tells us to buy DRVN just slightly over 11.57, with an upside target of 14.74. The data also tells us to set a stop loss @ 11.54 in case the stock turns against the trade. 11.57 is the first level of resistance above 11.5, and by rule, any break above resistance is a buy signal. In this case, 11.57, 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 DRVN slightly near 11.57, target 10.86, Stop Loss @ 11.6. Details
The technical summary data is suggesting a short of DRVN if it tests 11.57 with a downside target of 10.86. We should have a stop loss in place at 11.6 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, 11.57, 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 DRVN
- Buy DRVN slightly over 11.6, target 12.03, Stop Loss @ 11.57 Details
If 11.6 begins to break higher, the technical summary data tells us to buy DRVN just slightly over 11.6, with an upside target of 12.03. The data also tells us to set a stop loss @ 11.57 in case the stock turns against the trade. 11.6 is the first level of resistance above 11.5, and by rule, any break above resistance is a buy signal. In this case, 11.6, 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 DRVN slightly near 11.6, target 10.86, Stop Loss @ 11.63. Details
The technical summary data is suggesting a short of DRVN if it tests 11.6 with a downside target of 10.86. We should have a stop loss in place at 11.63 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, 11.6, 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 Driven Brands Holdings Inc. (DRVN) available here: DRVN.
DRVN Ratings for May 30:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Weak |
| P1 |
0 |
0 |
6.06 |
| P2 |
11.6 |
10.86 |
10.34 |
| P3 |
12.03 |
11.57 |
14.74 |
AI Generated Signals for DRVN
Blue = Current Price
Red= Resistance
Green = Support
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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 Driven Brands Holdings Inc. (NASDAQ: DRVN) report below is a real world example. Included are trading plans for DRVN, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for DRVN:
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