(MMSI) Pivots Trading Plans and Risk Controls

November 03, 2024, 01:24 am ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MMSI

• Buy MMSI near 95.3 target 100.87 stop loss @ 95.02 Details

The technical summary data tells us to buy MMSI near 95.3 with an upside target of 100.87. This data also tells us to set a stop loss @ 95.02 to protect against excessive loss in case the stock begins to move against the trade. 95.3 is the first level of support below 98.8 , and by rule, any test of support is a buy signal. In this case, support 95.3 is being tested, a buy signal would exist.

• Short MMSI slightly under 100.87, target 95.3, stop loss @ 101.16 Details

The technical summary data is suggesting a short of MMSI as it gets near 100.87 with a downside target of 95.3. We should have a stop loss in place at 101.16though. 100.87 is the first level of resistance above 98.8, and by rule, any test of resistance is a short signal. In this case, if resistance 100.87 is being tested, a short signal would exist.

Swing Trading Plans for MMSI

• Buy MMSI slightly over 99.11, target 100.87, Stop Loss @ 98.82 Details

If 99.11 begins to break higher, the technical summary data tells us to buy MMSI just slightly over 99.11, with an upside target of 100.87. The data also tells us to set a stop loss @ 98.82 in case the stock turns against the trade. 99.11 is the first level of resistance above 98.8, and by rule, any break above resistance is a buy signal. In this case, 99.11, 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 MMSI slightly near 99.11, target 96.19, Stop Loss @ 99.4. Details

The technical summary data is suggesting a short of MMSI if it tests 99.11 with a downside target of 96.19. We should have a stop loss in place at 99.4 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, 99.11, 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 MMSI

• Buy MMSI slightly over 99.11, target 100.55, Stop Loss @ 98.88 Details

If 99.11 begins to break higher, the technical summary data tells us to buy MMSI just slightly over 99.11, with an upside target of 100.55. The data also tells us to set a stop loss @ 98.88 in case the stock turns against the trade. 99.11 is the first level of resistance above 98.8, and by rule, any break above resistance is a buy signal. In this case, 99.11, 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 MMSI slightly near 99.11, target 97.99, Stop Loss @ 99.34. Details

The technical summary data is suggesting a short of MMSI if it tests 99.11 with a downside target of 97.99. We should have a stop loss in place at 99.34 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, 99.11, 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 Merit Medical Systems Inc. (MMSI) available here: MMSI.

MMSI Ratings for November 03:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	89.61
P2	97.99	96.19	95.3
P3	100.55	99.11	100.87

AI Generated Signals for MMSI

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This Merit Medical Systems Inc. (NASDAQ: MMSI) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MMSI change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MMSI is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MMSI too.  All of these are offered below the Summary Table.