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December 25, 2024, 02:54 am ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FTV near 73.98 with an upside target of 80. This data also tells us to set a stop loss @ 73.77 to protect against excessive loss in case the stock begins to move against the trade. 73.98 is the first level of support below 75 , and by rule, any test of support is a buy signal. In this case, support 73.98 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of FTV as it gets near 80 with a downside target of 73.98. We should have a stop loss in place at 80.23though. 80 is the first level of resistance above 75, and by rule, any test of resistance is a short signal. In this case, if resistance 80 is being tested, a short signal would exist.
If 80 begins to break higher, the technical summary data tells us to buy FTV just slightly over 80, with an upside target of n/a. The data also tells us to set a stop loss @ 79.77 in case the stock turns against the trade. 80 is the first level of resistance above 75, and by rule, any break above resistance is a buy signal. In this case, 80, 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.
The technical summary data is suggesting a short of FTV if it tests 80 with a downside target of 74.29. We should have a stop loss in place at 80.23 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, 80, 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.
If 80 begins to break higher, the technical summary data tells us to buy FTV just slightly over 80, with an upside target of n/a. The data also tells us to set a stop loss @ 79.81 in case the stock turns against the trade. 80 is the first level of resistance above 75, and by rule, any break above resistance is a buy signal. In this case, 80, 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.
The technical summary data is suggesting a short of FTV if it tests 80 with a downside target of 74.29. We should have a stop loss in place at 80.19 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, 80, 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.
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This report provides trading strategies for Fortive Corporation (NYSE: FTV) while incorporating risk controls.