Trading (ELTK) With Integrated Risk Controls
December 24, 2024, 14:04 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ELTK
- Buy ELTK near 9.2 target 11.56 stop loss @ 9.17 Details
The technical summary data tells us to buy ELTK near 9.2 with an upside target of 11.56. This data also tells us to set a stop loss @ 9.17 to protect against excessive loss in case the stock begins to move against the trade. 9.2 is the first level of support below 11 , and by rule, any test of support is a buy signal. In this case, support 9.2 is being tested, a buy signal would exist.
- Short ELTK slightly under 11.56, target 9.2, stop loss @ 11.59 Details
The technical summary data is suggesting a short of ELTK as it gets near 11.56 with a downside target of 9.2. We should have a stop loss in place at 11.59though. 11.56 is the first level of resistance above 11, and by rule, any test of resistance is a short signal. In this case, if resistance 11.56 is being tested, a short signal would exist.
Swing Trading Plans for ELTK
- Buy ELTK slightly over 11.56, target n/a, Stop Loss @ 11.53 Details
If 11.56 begins to break higher, the technical summary data tells us to buy ELTK just slightly over 11.56, with an upside target of n/a. The data also tells us to set a stop loss @ 11.53 in case the stock turns against the trade. 11.56 is the first level of resistance above 11, and by rule, any break above resistance is a buy signal. In this case, 11.56, 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 ELTK slightly near 11.56, target 10.98, Stop Loss @ 11.59. Details
The technical summary data is suggesting a short of ELTK if it tests 11.56 with a downside target of 10.98. We should have a stop loss in place at 11.59 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, 11.56, 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 ELTK
- Buy ELTK slightly over 11.56, target n/a, Stop Loss @ 11.53 Details
If 11.56 begins to break higher, the technical summary data tells us to buy ELTK just slightly over 11.56, with an upside target of n/a. The data also tells us to set a stop loss @ 11.53 in case the stock turns against the trade. 11.56 is the first level of resistance above 11, and by rule, any break above resistance is a buy signal. In this case, 11.56, 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 ELTK slightly near 11.56, target 10.98, Stop Loss @ 11.59. Details
The technical summary data is suggesting a short of ELTK if it tests 11.56 with a downside target of 10.98. We should have a stop loss in place at 11.59 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, 11.56, 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 Eltek Ltd. (ELTK) available here: ELTK.
ELTK Ratings for December 24:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Weak |
| P1 |
0 |
0 |
7.57 |
| P2 |
10.5 |
10.36 |
9.2 |
| P3 |
10.73 |
10.98 |
11.56 |
AI Generated Signals for ELTK
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for ELTK:
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