When the Price of Slack Technologies Inc WORK Talks, People Listen

July 17, 2021, 19:45 pm ET, BY Chris- 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 Slack Technologies Inc (NASDAQ: WORK) 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 WORK 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 WORK

• Buy WORK slightly over 41.89 target 46.06 stop loss @ 41.77 Details

The technical summary data tells us to buy WORK near 41.89 with an upside target of 46.06. This data also tells us to set a stop loss @ 41.77 to protect against excessive loss in case the stock begins to move against the trade. 41.89 is the first level of support below 44.7 , and by rule, any test of support is a buy signal. In this case, support 41.89 would be being tested, so a buy signal would exist.

• Short WORK under 46.06, target 41.89, stop loss @ 46.19 Details

The technical summary data is suggesting a short of WORK as it gets near 46.06 with a downside target of 41.89. We should have a stop loss in place at 46.19though. 46.06 is the first level of resistance above 44.7, and by rule, any test of resistance is a short signal. In this case, if resistance 46.06 is being tested, so a short signal would exist.

Swing Trading Plans for WORK

• Buy WORK slightly over 46.06, target 49.78, Stop Loss @ 45.93 Details

If 46.06 begins to break higher, the technical summary data tells us to buy WORK just slightly over 46.06, with an upside target of 49.78. The data also tells us to set a stop loss @ 45.93 in case the stock turns against the trade. 46.06 is the first level of resistance above 44.7, and by rule, any break above resistance is a buy signal. In this case, 46.06, 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 WORK near 46.06, target 44.25, Stop Loss @ 46.19. Details

The technical summary data is suggesting a short of WORK if it tests 46.06 with a downside target of 44.25. We should have a stop loss in place at 46.19 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, 46.06, 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 WORK

• Buy WORK slightly over 46.06, target 49.78, Stop Loss @ 45.95 Details

If 46.06 begins to break higher, the technical summary data tells us to buy WORK just slightly over 46.06, with an upside target of 49.78. The data also tells us to set a stop loss @ 45.95 in case the stock turns against the trade. 46.06 is the first level of resistance above 44.7, and by rule, any break above resistance is a buy signal. In this case, 46.06, 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 WORK near 46.06, target 44.28, Stop Loss @ 46.17. Details

The technical summary data is suggesting a short of WORK if it tests 46.06 with a downside target of 44.28. We should have a stop loss in place at 46.17 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, 46.06, 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.

WORK Ratings for July 17:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	41.89
P2	43.69	43.68	46.06
P3	44.28	44.25	49.78

Support and Resistance Plot Chart for WORK

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