How we can use the (SIL) price action to our advantage

July 14, 2024, 11:56 AM ET, BY Thomas Y. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for SIL

• Buy SIL just above 35.21, target n/a stop loss at 35.11. details

The technical summary data tells us to buy SIL at 35.21, but there is no current upside target from the summary chart. In this case, we should wait until either an update to the summary chart has occurred (which usually happens at the start of each trading day) or until the position is stopped. The data tells us to set a stop loss of 35.11 to protect ourselves from excessive losses in case the stock starts moving against the trade. 35.21 is the first support level below 35.68, and according to the rule, any test of support is a buy signal. In this case, a buy signal would be present if the 35.21 support is tested.

• NONE . details

NONE .
There are currently no resistance levels listed in the summary chart and therefore no short resistance plans that prompt us to short on resistance tests. Resistance levels have broken higher and short positions appear risky unless the stock breaks back down and below support levels.

Swing trading plans for SIL

• Buy SIL just above 36.11, target nz, stop loss at 36.01 details

If 36.11 starts to rise, the technical summary data tells us to buy SIL just above 36.11, with an upside target of n/a. The data also tells us to set a stop loss at 36.01 in case the stock turns against the trade. 36.11 is the first resistance level above 35.68, and any break above resistance is usually a buy signal. In this case, 36.11, the initial resistance, would move higher, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SIL just near 36.11, target 35.21, stop loss at 36.21. details

The technical summary data suggests a short of SIL if it tests 36.11 with a downside target of 35.21. However, we should place a stop loss at 36.21 in case the stock starts moving against the trade. Any test of resistance is basically a short signal. In this case, a short signal would be present if the resistance 36.11 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Day trading plans for SIL

• Buy SIL just above 35.78, target 36.11, stop loss at 35.7 details

If 35.78 starts to rise, the technical summary data tells us to buy SIL just above 35.78, with an upside target of 36.11. The data also tells us to set a stop loss at 35.7 in case the stock turns against the trade. 35.78 is the first resistance level above 35.68, and any break above resistance is usually a buy signal. In this case, 35.78, the initial resistance, would rise to the upside, so a buy signal would be present. Since this plan is based on a break of resistance, it is called a Long Resistance Plan.

• Short SIL just near 35.78, target 35.21, stop loss at 35.86. details

The technical summary data suggests a short of SIL if it tests 35.78 with a downside target of 35.21. However, we should place a stop loss at 35.86 in case the stock starts moving against the trade. Any test of resistance is basically a short signal. In this case, a short signal would be present if the resistance 35.78 is tested. Since this plan is a short plan based on a test of resistance, it is called a short resistance plan.

Check the timestamp of this data. Updated AI-generated signals for Global X Silver Miners ETF (SIL) available here: SIL.

SIL Ratings for July 14:

AI-generated signals for SIL

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Our task as #Investors is to pay attention to the #stocks we own. Part of that is looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Global X Silver Miners ETF The data table (NYSE:SIL) below can help you with the price action and we also have more details. Trading plans for SIL are also displayed here; these plans are updated in real-time for subscribers, this report is static. If you want an update or report on another stock, you can get it here: Unlimited Real-Time Reports.