Mar 21, 2021 (Stock Traders Daily via COMTEX) -- When we read the charts for Webster Financial /zigman2/quotes/207965570/composite WBS -0.14% we are able to reach conclusion that are not otherwise discernable. We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented. These are what create trading plans. The example here is for WBS and it demonstrates this practice. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
The Technical Summary and Trading Plans for WBS 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 WBS Report.
The technical summary data tells us to buy WBS near 56.07, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 55.91 to protect against excessive loss in case the stock begins to move against the trade. 56.07 is the first level of support below 60.09, and by rule, any test of support is a buy signal. In this case, if support 56.07 is being tested, a buy signal would exist.
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
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