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October 15, 2024, 01:20 am ET, BY THOMAS KEE- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy BBRE near 96.59 with an upside target of 101.34. This data also tells us to set a stop loss @ 96.31 to protect against excessive loss in case the stock begins to move against the trade. 96.59 is the first level of support below 98.94 , and by rule, any test of support is a buy signal. In this case, support 96.59 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of BBRE as it gets near 101.34 with a downside target of 96.59. We should have a stop loss in place at 101.63though. 101.34 is the first level of resistance above 98.94, and by rule, any test of resistance is a short signal. In this case, if resistance 101.34 is being tested, a short signal would exist.
If 101.34 begins to break higher, the technical summary data tells us to buy BBRE just slightly over 101.34, with an upside target of n/a. The data also tells us to set a stop loss @ 101.05 in case the stock turns against the trade. 101.34 is the first level of resistance above 98.94, and by rule, any break above resistance is a buy signal. In this case, 101.34, 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 BBRE if it tests 101.34 with a downside target of 98.08. We should have a stop loss in place at 101.63 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, 101.34, 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 98.99 begins to break higher, the technical summary data tells us to buy BBRE just slightly over 98.99, with an upside target of 101.34. The data also tells us to set a stop loss @ 98.76 in case the stock turns against the trade. 98.99 is the first level of resistance above 98.94, and by rule, any break above resistance is a buy signal. In this case, 98.99, 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 BBRE if it tests 98.99 with a downside target of 98.2. We should have a stop loss in place at 99.22 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, 98.99, 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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This report was produced using AI developed by Stock Traders Daily. Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves. This methodology is also applied to Index options, ETFs, and futures. The objective of this specific report is to optimize trading in Jpmorgan Betabuilders Msci U.s. Reit Etf (NASDAQ: BBRE) while incorporating prudent risk controls.