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December 15, 2024, 00:18 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy HTLF near 63.52 with an upside target of 69.67. This data also tells us to set a stop loss @ 63.34 to protect against excessive loss in case the stock begins to move against the trade. 63.52 is the first level of support below 66.12 , and by rule, any test of support is a buy signal. In this case, support 63.52 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of HTLF as it gets near 69.67 with a downside target of 63.52. We should have a stop loss in place at 69.87though. 69.67 is the first level of resistance above 66.12, and by rule, any test of resistance is a short signal. In this case, if resistance 69.67 is being tested, a short signal would exist.
If 67.97 begins to break higher, the technical summary data tells us to buy HTLF just slightly over 67.97, with an upside target of 69.67. The data also tells us to set a stop loss @ 67.77 in case the stock turns against the trade. 67.97 is the first level of resistance above 66.12, and by rule, any break above resistance is a buy signal. In this case, 67.97, 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 HTLF if it tests 67.97 with a downside target of 66.1. We should have a stop loss in place at 68.17 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, 67.97, 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 66.83 begins to break higher, the technical summary data tells us to buy HTLF just slightly over 66.83, with an upside target of 67.97. The data also tells us to set a stop loss @ 66.67 in case the stock turns against the trade. 66.83 is the first level of resistance above 66.12, and by rule, any break above resistance is a buy signal. In this case, 66.83, 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 HTLF if it tests 66.83 with a downside target of 66.1. We should have a stop loss in place at 66.99 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, 66.83, 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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Prudent Investment Analysis requires observations of the support and resistance levels for Heartland Financial Usa Inc. (NASDAQ: HTLF) too. These define prudent trading plans.