Apr 09, 2021 (Stock Traders Daily via COMTEX) -- This is not EF Hutton, but it could be more powerful. A picture speaks a thousand words, they say, and the price action of Webster Financial /zigman2/quotes/207965570/composite WBS +4.16% tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for WBS can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. 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 53.35 with an upside target of 60.25. This data also tells us to set a stop loss @ 53.2 to protect against excessive loss in case the stock begins to move against the trade. 53.35 is the first level of support below 55.94 , and by rule, any test of support is a buy signal. In this case, support 53.35 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of WBS as it gets near 60.25 with a downside target of 53.35. We should have a stop loss in place at 60.42though. 60.25 is the first level of resistance above 55.94, and by rule, any test of resistance is a short signal. In this case, if resistance 60.25 is being tested, a short signal would exist.
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