Oct 21, 2020 (Stock Traders Daily via COMTEX) -- Technical Summary
The Technical Summary and Trading Plans for CYH help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CYH Report.
The technical summary data tells us to buy CYH near 4.28 with an upside target of 5.54. This data also tells us to set a stop loss @ 4.27 to protect against excessive loss in case the stock begins to move against the trade. 4.28 is the first level of support below 4.83 , and by rule, any test of support is a buy signal. In this case, support 4.28 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of CYH as it gets near 5.54 with a downside target of 4.28. We should have a stop loss in place at 5.56 though. 5.54 is the first level of resistance above 4.83, and by rule, any test of resistance is a short signal. In this case, if resistance 5.54 is being tested, a short signal would exist.
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