pool adsReading the Charts in Community Health Systems $CYH to Generate Trading Plans
When we read the charts for Community Health Systems (NYSE: CYH) we are able to reach conclusion that are not otherwise discernable. We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented. These are what create trading plans. The example here is for CYH and it demonstrates this practice. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Weak | Strong |
| P1 | 0 | 0 | 7.43 |
| P2 | 8.24 | 8.14 | 8.97 |
| P3 | 8.69 | 8.81 | 10.87 |
Support and Resistance Plot Chart for CYH
Long Term Trading Plans for CYH
March 6, 2021, 6:45 pm ET
The Technical Summary and Trading Plans for CYH help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CYH Report.
CYH - (Long) Support Plan
The technical summary data tells us to buy CYH near 7.43 with an upside target of 8.97. This data also tells us to set a stop loss @ 7.41 to protect against excessive loss in case the stock begins to move against the trade. 7.43 is the first level of support below 8.69 , and by rule, any test of support is a buy signal. In this case, support 7.43 would be being tested, so a buy signal would exist.
CYH - (Short) Resistance Plan
The technical summary data is suggesting a short of CYH as it gets near 8.97 with a downside target of 7.43. We should have a stop loss in place at 9though. 8.97 is the first level of resistance above 8.69, and by rule, any test of resistance is a short signal. In this case, if resistance 8.97 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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