Jul 22, 2019 (Stock Traders Daily via COMTEX) -- The Consolidated Edison /zigman2/quotes/207137172/composite ED +0.65% update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for ED, and 1300 other stocks too, updated in real time for our trial subscribers . The data below is a snapshot, but updates are available now.
The Technical Summary and Trading Plans for ED 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 ED Report.
The technical summary data tells us to buy ED near 84.25 with an upside target of 89.08. This data also tells us to set a stop loss @ 83.99 to protect against excessive loss in case the stock begins to move against the trade. 84.25 is the first level of support below 86.82 , and by rule, any test of support is a buy signal. In this case, support 84.25 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of ED as it gets near 89.08 with a downside target of 84.25. We should have a stop loss in place at 89.34 though. 89.08 is the first level of resistance above 86.82, and by rule, any test of resistance is a short signal. In this case, if resistance 89.08 is being tested, so a short signal would exist.