How the price action of Invesco Oil & Gas Services Etf ($PXJ) is used to our Advantage
October 28, 2023, 22:15 pm ET, BY THOMAS KEE- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for PXJ
- Buy PXJ slightly over 26.19 target 33.74 stop loss @ 26.11 Details
The technical summary data tells us to buy PXJ near 26.19 with an upside target of 33.74. This data also tells us to set a stop loss @ 26.11 to protect against excessive loss in case the stock begins to move against the trade. 26.19 is the first level of support below 29.7292 , and by rule, any test of support is a buy signal. In this case, support 26.19 is being tested, a buy signal would exist.
- Short PXJ slightly under 33.74, target 26.19, stop loss @ 33.84 Details
The technical summary data is suggesting a short of PXJ as it gets near 33.74 with a downside target of 26.19. We should have a stop loss in place at 33.84though. 33.74 is the first level of resistance above 29.7292, and by rule, any test of resistance is a short signal. In this case, if resistance 33.74 is being tested, a short signal would exist.
Swing Trading Plans for PXJ
- Buy PXJ slightly over 29.82, target 30.81, Stop Loss @ 29.73 Details
If 29.82 begins to break higher, the technical summary data tells us to buy PXJ just slightly over 29.82, with an upside target of 30.81. The data also tells us to set a stop loss @ 29.73 in case the stock turns against the trade. 29.82 is the first level of resistance above 29.7292, and by rule, any break above resistance is a buy signal. In this case, 29.82, 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 PXJ slightly near 29.82, target 26.19, Stop Loss @ 29.91. Details
The technical summary data is suggesting a short of PXJ if it tests 29.82 with a downside target of 26.19. We should have a stop loss in place at 29.91 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, 29.82, 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 PXJ
- Buy PXJ slightly over 29.82, target 30.52, Stop Loss @ 29.75 Details
If 29.82 begins to break higher, the technical summary data tells us to buy PXJ just slightly over 29.82, with an upside target of 30.52. The data also tells us to set a stop loss @ 29.75 in case the stock turns against the trade. 29.82 is the first level of resistance above 29.7292, and by rule, any break above resistance is a buy signal. In this case, 29.82, 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 PXJ slightly near 29.82, target 26.19, Stop Loss @ 29.89. Details
The technical summary data is suggesting a short of PXJ if it tests 29.82 with a downside target of 26.19. We should have a stop loss in place at 29.89 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, 29.82, 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 Invesco Oil & Gas Services Etf (PXJ) available here: PXJ.
PXJ Ratings for October 28:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
18.93 |
| P2 |
29.74 |
29.82 |
26.19 |
| P3 |
30.52 |
30.81 |
33.74 |
AI Generated Signals for PXJ
Blue = Current Price
Red= Resistance
Green = Support
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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 Invesco Oil & Gas Services Etf (NYSE: PXJ) data table below can help you with price action, and we have more details too. Trading plans for PXJ 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.
Fundamental Charts for PXJ:
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