How the (^DJI) price action is used to our Advantage

December 08, 2024, 23:32 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ^DJI

• Buy ^DJI near 44261.39 target n/a stop loss @ 44133.56. Details

The technical summary data tells us to buy ^DJI near 44261.39, 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 44133.56 to protect against excessive loss in case the stock begins to move against the trade. 44261.39 is the first level of support below 44642.5, and by rule, any test of support is a buy signal. In this case, if support 44261.39 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 ^DJI

• Buy ^DJI slightly over 44841.61, target 45569.64, Stop Loss @ 44712.11 Details

If 44841.61 begins to break higher, the technical summary data tells us to buy ^DJI just slightly over 44841.61, with an upside target of 45569.64. The data also tells us to set a stop loss @ 44712.11 in case the stock turns against the trade. 44841.61 is the first level of resistance above 44642.5, and by rule, any break above resistance is a buy signal. In this case, 44841.61, 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 ^DJI slightly near 44841.61, target 44261.39, Stop Loss @ 44971.11. Details

The technical summary data is suggesting a short of ^DJI if it tests 44841.61 with a downside target of 44261.39. We should have a stop loss in place at 44971.11 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, 44841.61, 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 ^DJI

• Buy ^DJI slightly over 44677.6, target 44841.61, Stop Loss @ 44573.37 Details

If 44677.6 begins to break higher, the technical summary data tells us to buy ^DJI just slightly over 44677.6, with an upside target of 44841.61. The data also tells us to set a stop loss @ 44573.37 in case the stock turns against the trade. 44677.6 is the first level of resistance above 44642.5, and by rule, any break above resistance is a buy signal. In this case, 44677.6, 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 ^DJI slightly near 44677.6, target 44261.39, Stop Loss @ 44781.83. Details

The technical summary data is suggesting a short of ^DJI if it tests 44677.6 with a downside target of 44261.39. We should have a stop loss in place at 44781.83 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, 44677.6, 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  Dow Jones Industrial Average (^DJI) available here: ^DJI.

^DJI Ratings for December 08:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	41490.38
P2	44677.6	44841.61	42909.88
P3	44923.25	45569.64	44261.39

AI Generated Signals for ^DJI

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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  Dow Jones Industrial Average (NASDAQ: ^DJI) data table below can help you with price action, and we have more details too. Trading plans for ^DJI 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.