Longer Term Trading Plans for ASX
- Buy ASX near 8.17 target 9.32 stop loss @ 8.15
- Short ASX slightly under 9.32, target 8.17, stop loss @ 9.35
April 30, 2025, 02:34 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy ASX near 8.17 with an upside target of 9.32. This data also tells us to set a stop loss @ 8.15 to protect against excessive loss in case the stock begins to move against the trade. 8.17 is the first level of support below 8.7 , and by rule, any test of support is a buy signal. In this case, support 8.17 would be being tested, so a buy signal would exist.
The technical summary data…