When the Price of Romeo Power Inc RMO Talks, People Listen

December 02, 2021, 13:00 pm ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Romeo Power Inc (NYSE: RMO) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for RMO can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for RMO

• Buy RMO slightly over 1.43 target 4.66 stop loss @ 1.43 Details

The technical summary data tells us to buy RMO near 1.43 with an upside target of 4.66. This data also tells us to set a stop loss @ 1.43 to protect against excessive loss in case the stock begins to move against the trade. 1.43 is the first level of support below 3.695 , and by rule, any test of support is a buy signal. In this case, support 1.43 is being tested, a buy signal would exist.

• Short RMO under 4.66, target 1.43, stop loss @ 4.67 Details

The technical summary data is suggesting a short of RMO as it gets near 4.66 with a downside target of 1.43. We should have a stop loss in place at 4.67though. 4.66 is the first level of resistance above 3.695, and by rule, any test of resistance is a short signal. In this case, if resistance 4.66 is being tested, a short signal would exist.

Swing Trading Plans for RMO

• Buy RMO slightly over 4.06, target 4.66, Stop Loss @ 4.05 Details

If 4.06 begins to break higher, the technical summary data tells us to buy RMO just slightly over 4.06, with an upside target of 4.66. The data also tells us to set a stop loss @ 4.05 in case the stock turns against the trade. 4.06 is the first level of resistance above 3.695, and by rule, any break above resistance is a buy signal. In this case, 4.06, 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 RMO near 4.06, target 3.49, Stop Loss @ 4.07. Details

The technical summary data is suggesting a short of RMO if it tests 4.06 with a downside target of 3.49. We should have a stop loss in place at 4.07 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, 4.06, 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 RMO

• Buy RMO slightly over 4.06, target 4.66, Stop Loss @ 4.05 Details

If 4.06 begins to break higher, the technical summary data tells us to buy RMO just slightly over 4.06, with an upside target of 4.66. The data also tells us to set a stop loss @ 4.05 in case the stock turns against the trade. 4.06 is the first level of resistance above 3.695, and by rule, any break above resistance is a buy signal. In this case, 4.06, 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 RMO near 4.06, target 3.49, Stop Loss @ 4.07. Details

The technical summary data is suggesting a short of RMO if it tests 4.06 with a downside target of 3.49. We should have a stop loss in place at 4.07 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, 4.06, 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.

RMO Ratings for December 02:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	-0.50
P2	3.94	3.49	1.43
P3	0	4.06	4.66

Support and Resistance Plot Chart for RMO

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