(LOVE) Pivots trading plans and risk controls

June 23, 2024, 12:42 AM ET, BY Bill T. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for LOVE

• Buy LOVE just above 18.88, target 23.42, stop loss at 18.83 details

The technical summary data tells us to buy LOVE at 18.88 with an upside target of 23.42. This data also tells us to set a stop loss at 18.83 to protect ourselves from excessive losses in case the stock starts to move against the trade. 18.88 is the first support level below 23.26, and any test of support is usually a buy signal. In this case, support at 18.88 would be tested, so a buy signal would be present.

• Short LOVE just below 23.42, target 18.88, stop loss at 23.49 details

The technical summary data suggests a short of LOVE as it approaches 23.42, with a downside target of 18.88. However, we should place a stop loss at 23.49. 23.42 is the first resistance level above 23.26, and any test of resistance is usually a short signal. In this case, a short signal would be present if the 23.42 resistance is tested.

Swing Trading Plans for Love

• Buy LOVE just above 23.47, target 28.07, stop loss at 23.4 details

If 23.47 starts to rise, the technical summary data tells us to buy LOVE just above 23.47, with an upside target of 28.07. The data also tells us to set a stop loss at 23.4 in case the stock turns against the trade. 23.47 is the first resistance level above 23.26, and any break above resistance is usually a buy signal. In this case, 23.47, the initial resistance, would move up, 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 LOVE close to 23.47, target 22.11, stop loss at 23.54. details

The technical summary data suggests a short of LOVE if it tests 23.47 with a downside target of 22.11. However, we should place a stop loss at 23.54 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 23.47 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 love

• Buy LOVE just above 23.47, target 28.07, stop loss at 23.42. details

If 23.47 starts to rise, the technical summary data tells us to buy LOVE just above 23.47, with an upside target of 28.07. The data also tells us to set a stop loss at 23.42 in case the stock turns against the trade. 23.47 is the first resistance level above 23.26, and any break above resistance is usually a buy signal. In this case, 23.47, the initial resistance, would move up, 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 LOVE close to 23.47, target 23.15, stop loss at 23.52. details

The technical summary data suggests a short of LOVE if it tests 23.47 with a downside target of 23.15. However, we should place a stop loss at 23.52 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 23.47 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 The Lovesac Company (LOVE) available here: LOVE.

LOVE ratings for June 23:

AI-generated signals for love

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The The Lovesac Company (NASDAQ: LOVE) was created by Stock Traders Daily. Over the past 20 years, our methodology has been refined to identify strategies for both individual stocks and the equity market with prudent risk controls.

Warning:

This is a static report. The data below was valid at the time of publication, but support and resistance levels for LOVE change over time, so the report should be updated regularly. Subscribers get real-time updates. Unlimited real-time reports.

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Instructions:

The rules that govern the data in this report are the rules of technical analysis. For example, when LOVE tests support, buy signals emerge and resistance is the target. Conversely, a test of resistance is a sign to control risk or sell, and support would be the downside target accordingly. In any case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel) and to act as a risk control level.

Swing trades, day trades and longer-term trading plans:

This data is refined to also distinguish trading plans for day trading, swing trading and long-term investment plans for LOVE. All of these are offered below the summary table.