Long Term Trading Analysis for (ITB)

November 05, 2024, 18:10 pm ET, BY THOMAS KEE- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ITB

• Buy ITB near 113.59 target 122.66 stop loss @ 113.26 Details

The technical summary data tells us to buy ITB near 113.59 with an upside target of 122.66. This data also tells us to set a stop loss @ 113.26 to protect against excessive loss in case the stock begins to move against the trade. 113.59 is the first level of support below 121.61 , and by rule, any test of support is a buy signal. In this case, support 113.59 would be being tested, so a buy signal would exist.

• Short ITB slightly under 122.66, target 113.59, stop loss @ 123.01 Details

The technical summary data is suggesting a short of ITB as it gets near 122.66 with a downside target of 113.59. We should have a stop loss in place at 123.01though. 122.66 is the first level of resistance above 121.61, and by rule, any test of resistance is a short signal. In this case, if resistance 122.66 is being tested, so a short signal would exist.

Swing Trading Plans for ITB

• Buy ITB slightly over 122.66, target 131.63, Stop Loss @ 122.31 Details

If 122.66 begins to break higher, the technical summary data tells us to buy ITB just slightly over 122.66, with an upside target of 131.63. The data also tells us to set a stop loss @ 122.31 in case the stock turns against the trade. 122.66 is the first level of resistance above 121.61, and by rule, any break above resistance is a buy signal. In this case, 122.66, 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 ITB slightly near 122.66, target 119.75, Stop Loss @ 123.01. Details

The technical summary data is suggesting a short of ITB if it tests 122.66 with a downside target of 119.75. We should have a stop loss in place at 123.01 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, 122.66, 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 ITB

• Buy ITB slightly over 122.66, target 131.63, Stop Loss @ 122.37 Details

If 122.66 begins to break higher, the technical summary data tells us to buy ITB just slightly over 122.66, with an upside target of 131.63. The data also tells us to set a stop loss @ 122.37 in case the stock turns against the trade. 122.66 is the first level of resistance above 121.61, and by rule, any break above resistance is a buy signal. In this case, 122.66, 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 ITB slightly near 122.66, target 121.31, Stop Loss @ 122.95. Details

The technical summary data is suggesting a short of ITB if it tests 122.66 with a downside target of 121.31. We should have a stop loss in place at 122.95 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, 122.66, 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 Ishares U.s. Home Construction Etf (ITB) available here: ITB.

ITB Ratings for November 05:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	113.59
P2	119.34	115.44	122.66
P3	121.31	119.75	131.63

AI Generated Signals for ITB

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Ishares U.s. Home Construction Etf (NYSE: ITB) while incorporating 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 ITB change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ITB 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 ITB too.  All of these are offered below the Summary Table.