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By rule, any test of resistance is a short signal. We should have a stop loss in place at 149.4 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of PSI if it tests 148.97 with a downside target of 147.01. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. In this case, 148.97, initial resistance, would be breaking higher, so a buy signal would exist. 148.97 is the first level of resistance above 148.86, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 148.54 in case the stock turns against the trade.
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If 148.97 begins to break higher, the technical summary data tells us to buy PSI just over 148.97, with an upside target of 153.74. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky. There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. In this case, if support 147.01 is being tested, a buy signal would exist. 147.01 is the first level of support below 148.86, and by rule, any test of support is a buy signal. The data does tell us to set a stop loss 146.59 to protect against excessive loss in case the stock begins to move against the trade.
#Pes 17 news update#
In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The technical summary data tells us to buy PSI near 147.01, but there is no current upside target from the summary table.