Apr 23, 2024 (Stock Traders Daily via COMTEX) --
Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in Overlay Shares Large Cap Equity Etf (NYSE: OVL) with integrated risk controls.
Warning:
The trading plans were valid at the time this was published, but the support and resistance levels for OVL change as time passes, and this should be updated in real time. Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports
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Instructions:
Use the basic rules of Technical Analysis. Here are some examples: if OVL is testing support the signal is to buy and target resistance. On the other hand, if resistance is tested, that is a sign to short, and target support. No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.
Swing Trades, Day Trades, and Longer term Trading Plans:
This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for OVL too. All of these are offered here: Access our Real Time Trading Plans
Longer Term Trading Plans for OVL
- Buy OVL slightly over 38.32 target 40.33 stop loss @ 38.21
- Short OVL slightly under 40.33, target 38.32, stop loss @ 40.45
Swing Trading Plans for OVL
- Buy OVL slightly over 40.33, target 42.24, Stop Loss @ 40.21
- Short OVL slightly near 40.33, target 39.64, Stop Loss @ 40.45.
Day Trading Plans for OVL
- Buy OVL slightly over 40.33, target 42.24, Stop Loss @ 40.24
- Short OVL slightly near 40.33, target 39.64, Stop Loss @ 40.42.
OVL Technical Summary | Raw Data for the Trading Plans
| Term → | Near |
Mid |
Long |
|---|
| Bias |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
38.32 |
| P2 |
39.08 |
39 |
40.33 |
| P3 |
39.51 |
39.64 |
42.24 |
)
COMTEX_451299411/2570/2024-04-23T16:43:10
