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November 24, 2024, 03:16 am ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy KEN near 27.67 with an upside target of 29.36. This data also tells us to set a stop loss @ 27.59 to protect against excessive loss in case the stock begins to move against the trade. 27.67 is the first level of support below 28.47 , and by rule, any test of support is a buy signal. In this case, support 27.67 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of KEN as it gets near 29.36 with a downside target of 27.67. We should have a stop loss in place at 29.44though. 29.36 is the first level of resistance above 28.47, and by rule, any test of resistance is a short signal. In this case, if resistance 29.36 is being tested, a short signal would exist.
If 28.6 begins to break higher, the technical summary data tells us to buy KEN just slightly over 28.6, with an upside target of 29.36. The data also tells us to set a stop loss @ 28.52 in case the stock turns against the trade. 28.6 is the first level of resistance above 28.47, and by rule, any break above resistance is a buy signal. In this case, 28.6, 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 KEN if it tests 28.6 with a downside target of 27.67. We should have a stop loss in place at 28.68 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, 28.6, 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 28.6 begins to break higher, the technical summary data tells us to buy KEN just slightly over 28.6, with an upside target of 29.36. The data also tells us to set a stop loss @ 28.53 in case the stock turns against the trade. 28.6 is the first level of resistance above 28.47, and by rule, any break above resistance is a buy signal. In this case, 28.6, 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 KEN if it tests 28.6 with a downside target of 27.94. We should have a stop loss in place at 28.67 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, 28.6, 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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Trading or Investing in Kenon Holdings Ltd. (NYSE: KEN) involves an observation of the technicals, every time. This data reveals the current technicals.