How the (LECO) price action is used to our Advantage

February 21, 2024, 18:02 pm ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LECO

• Buy LECO slightly over 235.56 target n/a stop loss @ 234.88. Details

The technical summary data tells us to buy LECO near 235.56, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 234.88 to protect against excessive loss in case the stock begins to move against the trade. 235.56 is the first level of support below 246.47, and by rule, any test of support is a buy signal. In this case, if support 235.56 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for LECO

• Buy LECO slightly over 254.2, target n/a, Stop Loss @ 253.47 Details

If 254.2 begins to break higher, the technical summary data tells us to buy LECO just slightly over 254.2, with an upside target of n/a. The data also tells us to set a stop loss @ 253.47 in case the stock turns against the trade. 254.2 is the first level of resistance above 246.47, and by rule, any break above resistance is a buy signal. In this case, 254.2, 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 LECO slightly near 254.2, target 243.73, Stop Loss @ 254.93. Details

The technical summary data is suggesting a short of LECO if it tests 254.2 with a downside target of 243.73. We should have a stop loss in place at 254.93 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, 254.2, 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 LECO

• Buy LECO slightly over 254.2, target 256.92, Stop Loss @ 253.61 Details

If 254.2 begins to break higher, the technical summary data tells us to buy LECO just slightly over 254.2, with an upside target of 256.92. The data also tells us to set a stop loss @ 253.61 in case the stock turns against the trade. 254.2 is the first level of resistance above 246.47, and by rule, any break above resistance is a buy signal. In this case, 254.2, 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 LECO slightly near 254.2, target 245.38, Stop Loss @ 254.79. Details

The technical summary data is suggesting a short of LECO if it tests 254.2 with a downside target of 245.38. We should have a stop loss in place at 254.79 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, 254.2, 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  Lincoln Electric Holdings Inc. (LECO) available here: LECO.

LECO Ratings for February 21:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	201.6
P2	245.38	243.73	218.46
P3	256.92	254.2	235.56

AI Generated Signals for LECO

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Lincoln Electric Holdings Inc. (NASDAQ: LECO) data table below can help you with price action, and we have more details too. Trading plans for LECO are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.