The technical summary data is suggesting a short of IMSI as it gets near 51.87 with a downside target of 51.19. We should have a stop loss in place at 52.02though. 51.87 is the first level of resistance above 51.6601, and by rule, any test of resistance is a short signal. In this case, if resistance 51.87 is being tested, so a short signal would exist.
If 51.87 begins to break higher, the technical summary data tells us to buy IMSI just slightly over 51.87, with an upside target of n/a. The data also tells us to set a stop loss @ 51.72 in case the stock turns against the trade. 51.87 is the first level of resistance above 51.6601, and by rule, any break above resistance is a buy signal. In this case, 51.87, 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 IMSI if it tests 51.87 with a downside target of 51.65. We should have a stop loss in place at 52.02 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, 51.87, 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.