Timing Trades in Dow Jones 30 Industrials $DJI can be Risky if you Don't Have Discipline

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Apr 19, 2021 (Stock Traders Daily via COMTEX) — Trading Dow Jones 30 Industrials (NYSE: DJI) or any other stock for that matter requires a degree of disciple that not every investor has. Even those that have discipline often fail to adhere to those disciplines sometimes, and this can cause problems, but hopefully the guides below will help investors see exactly how to stick to it. The data we offer below for DJI has been compiled in such as way as to demonstrate how to do this using a real-time example. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.

Technical Summary

Bias Strong Strong Strong
P1 0 0 31944.61
P2 34066.52 33943.33 32819.40
P3 34264.31 34209.38 33647.34
Long Term Trading Plans for DJI

April 19, 2021, 5:30 am ET

The Technical Summary and Trading Plans for DJI help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this DJI Report.

DJI – (Long) Support Plan

The technical summary data tells us to buy DJI near 33647.34, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 33550.17 to protect against excessive loss in case the stock begins to move against the trade. 33647.34 is the first level of support below 34200.7, and by rule, any test of support is a buy signal. In this case, if support 33647.34 is being tested, a buy signal would exist.

DJI – (Short) Resistance Plan

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

COMTEX_384674970/2570/2021-04-19T05:56:32

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The MarketWatch News Department was not involved in the creation of this content.