When (ONTO) Moves Investors should Listen

December 16, 2024, 07:24 am ET, BY THOMAS KEE- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ONTO

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short ONTO slightly under 169.72, target n/a, stop loss @ 170.21 Details

The technical summary data is suggesting a short of ONTO as it gets near 169.72, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 170.21. 169.72 is the first level of resistance above 167.09, and by rule, any test of resistance is a short signal. In this case, if resistance 169.72 is being tested, so a short signal would exist.

Swing Trading Plans for ONTO

• Buy ONTO slightly over 169.72, target 171.93, Stop Loss @ 169.23 Details

If 169.72 begins to break higher, the technical summary data tells us to buy ONTO just slightly over 169.72, with an upside target of 171.93. The data also tells us to set a stop loss @ 169.23 in case the stock turns against the trade. 169.72 is the first level of resistance above 167.09, and by rule, any break above resistance is a buy signal. In this case, 169.72, 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 ONTO slightly near 169.72, target 163.4, Stop Loss @ 170.21. Details

The technical summary data is suggesting a short of ONTO if it tests 169.72 with a downside target of 163.4. We should have a stop loss in place at 170.21 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, 169.72, 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 ONTO

• Buy ONTO slightly over 167.98, target 169.72, Stop Loss @ 167.59 Details

If 167.98 begins to break higher, the technical summary data tells us to buy ONTO just slightly over 167.98, with an upside target of 169.72. The data also tells us to set a stop loss @ 167.59 in case the stock turns against the trade. 167.98 is the first level of resistance above 167.09, and by rule, any break above resistance is a buy signal. In this case, 167.98, 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 ONTO slightly near 167.98, target 163.88, Stop Loss @ 168.37. Details

The technical summary data is suggesting a short of ONTO if it tests 167.98 with a downside target of 163.88. We should have a stop loss in place at 168.37 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, 167.98, 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  Onto Innovation Inc. (ONTO) available here: ONTO.

ONTO Ratings for December 16:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	169.72
P2	163.88	163.4	203.34
P3	167.98	171.93	238.54

AI Generated Signals for ONTO

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Onto Innovation Inc. (NASDAQ: ONTO) report below is a real world example. Included are trading plans for ONTO, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.