How Stock Traders Daily uses Price Action in Surmodics $SRDX to Define Opportunity and Risk
April 17, 2021, BY Quentin W. - Contributor | Subscribe to RSS
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Both opportunity and risk assessments can be drawn from looking at the price action in Surmodics (NASDAQ: SRDX). This is a practice commonly referred to as reading the charts. The summary data for SRDX below demonstrates this, and there are trading plans that help investors understand how to utilize the data too. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
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Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Bias | Strong | Neutral | Strong |
| P1 | 0 | 0 | 42.81 |
| P2 | 57.72 | 56.56 | 48.84 |
| P3 | 59.46 | 59.28 | 54.91 |
Long Term Trading Plans for SRDX
April 17, 2021, 10:15 pm ET
The Technical Summary and Trading Plans for SRDX 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 SRDX Report.
SRDX - (Long) Support Plan
The technical summary data tells us to buy SRDX near 54.91, 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 54.75 to protect against excessive loss in case the stock begins to move against the trade. 54.91 is the first level of support below 58.19, and by rule, any test of support is a buy signal. In this case, if support 54.91 is being tested, a buy signal would exist.
SRDX - (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.
Swing Trading Plans for SRDX
April 17, 2021, 10:15 pm ET
The Technical Summary and Trading Plans for SRDX 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 SRDX Report.
SRDX - (Long) Support Plan
If 59.28 begins to break higher, the technical summary data tells us to buy SRDX just over 59.28, with an upside target of n/a. The data also tells us to set a stop loss @ 59.11 in case the stock turns against the trade. 59.28 is the first level of resistance above 58.19, and by rule, any break above resistance is a buy signal. In this case, 59.28, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
SRDX - (Short) Resistance Plan
The technical summary data is suggesting a short of SRDX if it tests 59.28 with a downside target of 56.56. We should have a stop loss in place at 59.45 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 59.28, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SRDX
April 17, 2021, 10:15 pm ET
The Technical Summary and Trading Plans for SRDX 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 SRDX Report.
SRDX - (Long) Support Plan
If 59.46 begins to break higher, the technical summary data tells us to buy SRDX just over 59.46, with an upside target of n/a. The data also tells us to set a stop loss @ 59.32 in case the stock turns against the trade. 59.46 is the first level of resistance above 58.19, and by rule, any break above resistance is a buy signal. In this case, 59.46, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
SRDX - (Short) Resistance Plan
The technical summary data is suggesting a short of SRDX if it tests 59.46 with a downside target of 57.72. We should have a stop loss in place at 59.6 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 59.46, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
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