Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. In this case, 152.43, initial resistance, would be breaking higher, so a buy signal would exist. 152.43 is the first level of resistance above 150.41, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 151.99 in case the stock turns against the trade. If 152.43 begins to break higher, the technical summary data tells us to buy IWN just over 152.43, with an upside target of 156.97. In this case, if resistance 156.97 is being tested, a short signal would exist. 156.97 is the first level of resistance above 150.41, and by rule, any test of resistance is a short signal. We should have a stop loss in place at 157.42though. The technical summary data is suggesting a short of IWN as it gets near 156.97 with a downside target of 146.96. In this case, support 146.96 is being tested, a buy signal would exist. 146.96 is the first level of support below 150.41, and by rule, any test of support is a buy signal. This data also tells us to set a stop loss 146.54 to protect against excessive loss in case the stock begins to move against the trade. The technical summary data tells us to buy IWN near 146.96 with an upside target of 156.97.
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