The objective of this specific report is to optimize trading in SurmodicsĀ (NASDAQ: SRDX) while incorporating prudent risk controls. This methodology is also applied to Index options, ETFs, and futures. Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves. This report was produced using AI developed by Stock Traders Daily.
Get Notified When our Ratings Change: Take a Trial Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan. In this case, if resistance, 37.58, is being tested a short signal would exist. By rule, any test of resistance is a short signal. We should have a stop loss in place at 37.67 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of SRDX if it tests 37.58 with a downside target of 33.69.
Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. In this case, 37.58, initial resistance, would be breaking higher, so a buy signal would exist. 37.58 is the first level of resistance above 35.62, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 37.49 in case the stock turns against the trade. If 37.58 begins to break higher, the technical summary data tells us to buy SRDX just over 37.58, with an upside target of 39.62.
If 37.44 begins to break higher, the technical summary data tells us to buy SRDX just over 37.44, with an upside target of 39.61. Buy SRDX over 37.44, target 39.61, Stop Loss 37.33 Details.In this case, if resistance 37.44 is being tested, a short signal would exist. 37.44 is the first level of resistance above 35.62, and by rule, any test of resistance is a short signal. We should have a stop loss in place at 37.55though. The technical summary data is suggesting a short of SRDX as it gets near 37.44 with a downside target of 33.69. Short SRDX under 37.44, target 33.69, stop loss 37.55 Details.In this case, support 33.69 is being tested, a buy signal would exist.
33.69 is the first level of support below 35.62, and by rule, any test of support is a buy signal. This data also tells us to set a stop loss 33.59 to protect against excessive loss in case the stock begins to move against the trade. The technical summary data tells us to buy SRDX near 33.69 with an upside target of 37.44.
Buy SRDX over 33.69 target 37.44 stop loss 33.59 Details.Source: Stock Traders Daily Longer Term Trading Plans for SRDX