(FNOV) Investment analysis and advice

December 31, 2023, 10:35am ET, BY Momei – Contributor, Stock Trader’s Daily | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

FNOV long-term trading plan

• Buy FNOV just above target price 41.36 42.62 Stop Loss @ 41.24 detail

According to the technical summary data, we bought FNOV near 41.36 with an upside price target of 42.62. This data also shows that a stop loss should be set at 41.24 to prevent excessive losses if the stock starts to move against the trade. 41.36 is the first support level below 42.5138, and as a rule, testing support is a buy signal. In this case, support 41.36 has been tested and a buy signal exists.

• Short FNOV is just below 42.62, target is 41.36, stop loss @ 42.74 detail

The technical summary data indicates that FNOV is nearing 42.62 with a downside price target of 41.36, suggesting a short on FNOV. However, the stop loss should be set at 42.74. 42.62 is the first resistance level above 42.5138 and by rule, a test of resistance is a short signal. In this case, if resistance 42.62 is tested, a short circuit signal is present.

FNOV swing trading plan

• Buy FNOV just above 42.74, no target, stop loss @ 42.62 detail

If we start to break above 42.74, the technical summary data suggests we should buy FNOV just above 42.74 with no upside objective. The data also tells us to set a stop loss at 42.62 in case the stock trades against us. 42.74 is the first resistance level above 42.5138, and as a general rule, a break above resistance is a buy signal. In this case, there is a buy signal as the initial resistance at 42.74 is breaking out. This plan is called a long-term resistance plan because it is based on interruptions in resistance.

• Short FNOV is slightly closer to 42.74, target is 42.41 and stop loss is 42.86. detail

Technical summary data suggests that FNOV is short on a test of 42.74 with a downside target of 42.41. However, you should set a stop loss at 42.86 in case the stock starts moving against the trade. As a rule, all resistance tests are short signals. In this case, when we test resistance 42.74, a short signal is present. This plan is called a short-term resistance plan because it is a short-term plan based on testing resistance.

FNOV day trading plan

• Buy FNOV just above 42.74, no target, stop loss @ 42.64 detail

If we start to break above 42.74, the technical summary data suggests we should buy FNOV just above 42.74 with no upside objective. The data also tells us to set a stop loss at 42.64 in case the stock trades against us. 42.74 is the first resistance level above 42.5138, and as a general rule, a break above resistance is a buy signal. In this case, there is a buy signal as the initial resistance at 42.74 is breaking out. This plan is called a long-term resistance plan because it is based on interruptions in resistance.

• Short FNOV is slightly closer to 42.74, target is 42.41 and stop loss is 42.84. detail

Technical summary data suggests that FNOV is short on a test of 42.74 with a downside target of 42.41. However, you should set a stop loss at 42.84 in case the stock starts to move against the trade. As a rule, all resistance tests are short signals. In this case, when we test resistance 42.74, a short signal is present. This plan is called a short-term resistance plan because it is a short-term plan based on testing resistance.

Real-time updates are available at: First Trust Cboe Vest Us Equity Buffer ETF – November (FNOV) Page is here: FNOV.

FNOV rating as of December 31st:

FNOV support and resistance plot chart

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Smart investment analysis requires observing support and resistance levels. First Trust Cboe Vest Us Equity Buffer ETF – November (NASDAQ:FNOV) too. These define a prudent trading plan.

caveat:

This is a static report and the data below is valid at the time of publication, however the report should be updated regularly as FNOV’s support and resistance levels change over time. Real-time updates are provided to subscribers. Unlimited real-time reports.

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Instructions:

The rules that govern the data in this report are technical analysis rules. For example, if FNOV is testing a support buy signal, resistance will be the target. Conversely, if resistance is being tested, it is a sign to control risk or short, and support will be a downside target accordingly. In either case, the trigger point is designed to be an ideal place to enter a position (avoiding trading in the middle of a trading channel) and also serves as a level of risk control.

Swing trading, day trading, and long-term trading plans:

This data is refined to distinguish between day trading, swing trading, and FNOV’s long-term investment plan trading plans. All of these are displayed below the summary table.