Genesco $GCO Technical Update
The Genesco (NYSE: GCO) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for GCO, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Review the Trading Plans:
Long Term Trading Plans for GCO
September 16, 2018, 3:30 am ET
The Technical Summary and Trading Plans for GCO 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 GCO Report.
GCO – (Long) Support Plan
Buy over 45.51 target 51.42 stop loss @ 45.25.
The technical summary data tells us to buy GCO near 45.51 with an upside target of 51.42. This data also tells us to set a stop loss @ 45.25 to protect against excessive loss in case the stock begins to move against the trade. 45.51 is the first level of support below 46.95 , and by rule, any test of support is a buy signal. In this case, support 45.51 is being tested, a buy signal would exist.
GCO – (Short) Resistance Plan
Short under 51.42 target 45.51 stop loss @ 51.68
The technical summary data is suggesting a short of GCO as it gets near 51.42 with a downside target of 45.51. We should have a stop loss in place at 51.68 though. 51.42 is the first level of resistance above 46.95, and by rule, any test of resistance is a short signal. In this case, if resistance 51.42 is being tested, a short signal would exist.
This post was originally published on *this site*