How we use the price action (MYFW) to our advantage

June 23, 2024, 9:20 a.m. ET, BY Randall S. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer-term trading plans for MYFW

• Buy MYFW just above 15.3, target 17.77, stop loss at 15.26 details

The technical summary data tells us to buy MYFW at 15.3 with an upside target of 17.77. This data also tells us to set a stop loss at 15.26 to protect ourselves from excessive losses in case the stock starts moving against the trade. 15.3 is the first support level below 16.71 and any test of the support level is usually a buy signal. In this case, the support at 15.3 is tested, a buy signal would be present.

• Short MYFW just below 17.77, target 15.3, stop loss at 17.82 details

The technical summary data suggests a short of MYFW as it approaches 17.77, with a downside target of 15.3. However, we should place a stop loss at 17.82. 17.77 is the first resistance level above 16.71, and any test of resistance is usually a short signal. In this case, a short signal would be present if the 17.77 resistance is tested.

Swing Trading Plans for MYFW

• Buy MYFW just above 16.93, target 17.77, stop loss at 16.88. details

If 16.93 starts to rise, the technical summary data tells us to buy MYFW just above 16.93, with an upside target of 17.77. The data also tells us to set a stop loss at 16.88 in case the stock turns against the trade. 16.93 is the first resistance level above 16.71, and any break above resistance is usually a buy signal. In this case, 16.93, 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 MYFW just near 16.93, target 15.3, stop loss at 16.98. details

The technical summary data suggests a short of MYFW if it tests 16.93 with a downside target of 15.3. However, we should place a stop loss at 16.98 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 16.93 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 MYFW

• Buy MYFW just above 16.93, target 17.22, stop loss at 16.89. details

If 16.93 starts to rise, the technical summary data tells us to buy MYFW just above 16.93, with an upside target of 17.22. The data also tells us to set a stop loss at 16.89 in case the stock turns against the trade. 16.93 is the first resistance level above 16.71, and any break above resistance is usually a buy signal. In this case, 16.93, 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 MYFW close to 16.93, target 16.7, stop loss at 16.97. details

The technical summary data suggests a short of MYFW if it tests 16.93 with a downside target of 16.7. However, we should place a stop loss at 16.97 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 16.93 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 First Western Financial Inc. (MYFW) available here: My goodness.

MYFW Ratings for June 23:

AI-generated signals for MYFW

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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 First Western Financial Inc. The data table (NASDAQ:MYFW) below can help you with the price action and we also have more details. Trading plans for MYFW 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 one here: Unlimited Real-Time Reports.