![]() We should have a stop loss in place at 25.47 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of DRQ if it tests 25.41 with a downside target of 24.98. Short DRQ slightly near 25.41, target 24.98, Stop Loss 25.47.Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. In this case, 25.41, initial resistance, would be breaking higher, so a buy signal would exist. 25.41 is the first level of resistance above 25.13, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 25.35 in case the stock turns against the trade. If 25.41 begins to break higher, the technical summary data tells us to buy DRQ just slightly over 25.41, with an upside target of 25.87. Buy DRQ slightly over 25.41, target 25.87, Stop Loss 25.35 Details.Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan. ![]() In this case, if resistance, 25.41, is being tested a short signal would exist. By rule, any test of resistance is a short signal. We should have a stop loss in place at 25.48 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of DRQ if it tests 25.41 with a downside target of 23.44.
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