pool adsChanges to the Price of Invesco Db Us Dollar Index $UDN Influence Investor Perception
Often, the action in a stock is based on investors perceptions, but it can be a circular event. Not only is the price action representative of perception, but it can influence perception too. In the case of Invesco Db Us Dollar Index (NYSE: UDN) we can see this in the charts. The data for UDN in the summary table and trading plans below are intended to provide an example of how to extrapolate this. Our 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.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Neutral | Neutral |
| P1 | 0 | 0 | 21.41 |
| P2 | 21.35 | 21.38 | 21.83 |
| P3 | 0 | 22.25 |
Support and Resistance Plot Chart for UDN
Long Term Trading Plans for UDN
April 18, 2021, 1:00 pm ET
The Technical Summary and Trading Plans for UDN help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this UDN Report.
UDN - (Long) Support Plan
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.
UDN - (Short) Resistance Plan
The technical summary data is suggesting a short of UDN as it gets near 21.41, 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 21.47. 21.41 is the first level of resistance above 21.34, and by rule, any test of resistance is a short signal. In this case, if resistance 21.41 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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