When the Price of Russell 2000 RUT Talks, People Listen

September 03, 2022, 02:45 am ET, BY Tyler- 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 Russell 2000 (NYSE: RUT) 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 RUT 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 RUT

• Buy RUT slightly over 1761.36 target 1905.31 stop loss @ 1756.27 Details

The technical summary data tells us to buy RUT near 1761.36 with an upside target of 1905.31. This data also tells us to set a stop loss @ 1756.27 to protect against excessive loss in case the stock begins to move against the trade. 1761.36 is the first level of support below 1809.75 , and by rule, any test of support is a buy signal. In this case, support 1761.36 is being tested, a buy signal would exist.

• Short RUT under 1905.31, target 1761.36, stop loss @ 1910.81 Details

The technical summary data is suggesting a short of RUT as it gets near 1905.31 with a downside target of 1761.36. We should have a stop loss in place at 1910.81though. 1905.31 is the first level of resistance above 1809.75, and by rule, any test of resistance is a short signal. In this case, if resistance 1905.31 is being tested, a short signal would exist.

Swing Trading Plans for RUT

• Buy RUT slightly over 1858.33, target 1905.31, Stop Loss @ 1852.96 Details

If 1858.33 begins to break higher, the technical summary data tells us to buy RUT just slightly over 1858.33, with an upside target of 1905.31. The data also tells us to set a stop loss @ 1852.96 in case the stock turns against the trade. 1858.33 is the first level of resistance above 1809.75, and by rule, any break above resistance is a buy signal. In this case, 1858.33, 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 RUT near 1858.33, target 1807.46, Stop Loss @ 1863.7. Details

The technical summary data is suggesting a short of RUT if it tests 1858.33 with a downside target of 1807.46. We should have a stop loss in place at 1863.7 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, 1858.33, 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 RUT

• Buy RUT slightly over 1813.31, target 1858.33, Stop Loss @ 1809.08 Details

If 1813.31 begins to break higher, the technical summary data tells us to buy RUT just slightly over 1813.31, with an upside target of 1858.33. The data also tells us to set a stop loss @ 1809.08 in case the stock turns against the trade. 1813.31 is the first level of resistance above 1809.75, and by rule, any break above resistance is a buy signal. In this case, 1813.31, 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 RUT near 1813.31, target 1807.46, Stop Loss @ 1817.54. Details

The technical summary data is suggesting a short of RUT if it tests 1813.31 with a downside target of 1807.46. We should have a stop loss in place at 1817.54 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, 1813.31, 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.

RUT Ratings for September 03:

Support and Resistance Plot Chart for RUT

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