Trading (HP) With Integrated Risk Controls
January 15, 2024, 22:38 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for HP
- Buy HP slightly over 32.92 target 38.25 stop loss @ 32.82 Details
The technical summary data tells us to buy HP near 32.92 with an upside target of 38.25. This data also tells us to set a stop loss @ 32.82 to protect against excessive loss in case the stock begins to move against the trade. 32.92 is the first level of support below 33.93 , and by rule, any test of support is a buy signal. In this case, support 32.92 would be being tested, so a buy signal would exist.
- Short HP slightly under 38.25, target 32.92, stop loss @ 38.36 Details
The technical summary data is suggesting a short of HP as it gets near 38.25 with a downside target of 32.92. We should have a stop loss in place at 38.36though. 38.25 is the first level of resistance above 33.93, and by rule, any test of resistance is a short signal. In this case, if resistance 38.25 is being tested, so a short signal would exist.
Swing Trading Plans for HP
- Buy HP slightly over 38.25, target 43.98, Stop Loss @ 38.14 Details
If 38.25 begins to break higher, the technical summary data tells us to buy HP just slightly over 38.25, with an upside target of 43.98. The data also tells us to set a stop loss @ 38.14 in case the stock turns against the trade. 38.25 is the first level of resistance above 33.93, and by rule, any break above resistance is a buy signal. In this case, 38.25, 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 HP slightly near 38.25, target 33.71, Stop Loss @ 38.36. Details
The technical summary data is suggesting a short of HP if it tests 38.25 with a downside target of 33.71. We should have a stop loss in place at 38.36 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, 38.25, 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 HP
- Buy HP slightly over 38.25, target 43.98, Stop Loss @ 38.16 Details
If 38.25 begins to break higher, the technical summary data tells us to buy HP just slightly over 38.25, with an upside target of 43.98. The data also tells us to set a stop loss @ 38.16 in case the stock turns against the trade. 38.25 is the first level of resistance above 33.93, and by rule, any break above resistance is a buy signal. In this case, 38.25, 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 HP slightly near 38.25, target 33.85, Stop Loss @ 38.34. Details
The technical summary data is suggesting a short of HP if it tests 38.25 with a downside target of 33.85. We should have a stop loss in place at 38.34 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, 38.25, 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 Helmerich & Payne Inc. (HP) available here: HP.
HP Ratings for January 15:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Neutral |
| P1 |
0 |
0 |
32.92 |
| P2 |
33.43 |
32.28 |
38.25 |
| P3 |
33.85 |
33.71 |
43.98 |
AI Generated Signals for HP
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for HP:
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