$IBTX | How to Take Advantage of moves in ($IBTX) (IBTX)

By Thomas Kee

$IBTX | How to Take Advantage of moves in ($IBTX) (IBTX)

The technical summary data tells us to buy IBTX near 55.29 with an upside target of 62.07. This data also tells us to set a stop loss @ 55.13 to protect against excessive loss in case the stock begins to move against the trade. 55.29 is the first level of support below 60.98 , and by rule, any test of support is a buy signal. In this case, support 55.29 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of IBTX as it gets near 62.07 with a downside target of 55.29. We should have a stop loss in place at 62.25though. 62.07 is the first level of resistance above 60.98, and by rule, any test of resistance is a short signal. In this case, if resistance 62.07 is being tested, so a short signal would exist.

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