(SMR) Trading Advice

October 16, 2024, 1:10 AM ET, BY Thomas H. Kee Jr. – Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer term trading plans for SMR

• Buy SMR near 11.8 and target a stop loss of 15.25 at 11.77 Details

The technical summary data tells us to buy SMR at around 11.8 with an upside target of 15.25. This data also tells us to set a stop loss at 11.77 to protect ourselves from excessive losses in case the stock starts moving against the trade. 11.8 is the first level of support below 13.62, and fundamentally any test of support is a buy signal. In this case the support 11.8 is tested, a buy signal would be present.

• Short SMR just below 15.25, target 11.8, stop loss at 15.29 Details

Technical summary data suggests a breach of the SMR as it approaches 15.25, with a downside target of 11.8. However, we should have a stop loss at 15.29. 15.25 is the first resistance level above 13.62, and basically any test of resistance is a short signal. In this case, if the resistance 15.25 is tested, a short signal is present.

Swing trading plans for SMR

• Buy SMR slightly above 14.3, target 15.25, stop loss at 14.26 Details

If 14.3 starts to break out higher, the technical summary data tells us to buy SMR just above 14.3 with an upside target of 15.25. The data also tells us to set a stop loss at 14.26 in case the stock turns against the trade. 14.3 is the first resistance level above 13.62, and basically any break above resistance is a buy signal. In this case, 14.3, the initial resistance, would break to the upside, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short SMR slightly near 14.3, target 12.86, stop loss at 14.34. Details

Technical summary data suggests a break below the SMR if it tests 14.3, with a downside target of 12.86. However, we should have a stop loss at 14.34 in case the stock starts moving against the trade. Basically, every resistance test is a short signal. In this case, if resistance 14.3 is tested, there would be a short signal. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for SMR

• Buy SMR slightly above 13.87, target 14.3, stop loss at 13.84 Details

If 13.87 starts to break out higher, the technical summary data tells us to buy SMR just above 13.87 with an upside target of 14.3. The data also tells us to set a stop loss at 13.84 in case the stock turns against the trade. 13.87 is the first resistance level above 13.62, and basically any break above resistance is a buy signal. In this case, 13.87, the initial resistance, would break to the upside, giving a buy signal. Because this plan is based on a resistance break, it is called a long resistance plan.

• Short SMR slightly near 13.87, target 12.86, stop loss at 13.9. Details

Technical summary data suggests shorting the SMR if it tests 13.87, with a downside target of 12.86. However, we should have a stop loss at 13.9 in case the stock starts moving against the trade. Basically, every resistance test is a short signal. In this case, if resistance 13.87 is tested, a short signal is present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Check the timestamp of this data. Updated AI generated signals for Nuscale Power Corporation Class A (SMR) available here: SMR.

SMR ratings for October 16th:

AI generated signals for SMR

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This report was generated using AI developed by Stock Traders Daily. Over the past 20 years, this proprietary AI has been refined to help identify the most advantageous trading strategies for both individual stocks and the stock markets themselves. This method is also applied to index options, ETFs and futures. The aim of this particular report is to optimize trading Nuscale Power Corporation Class A (NYSE: SMR) incorporating prudent risk controls.

Warning:

This is a static report. The following data was valid at the time of publication, but support and resistance levels for SMR change over time, so the report should be updated regularly. 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 the rules of technical analysis. For example, when SMR tests support, buy signals emerge and resistance is the target. Conversely, if resistance is tested, it is a sign to control risk or sell, and support would accordingly be the downside target. In any case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel) and to serve as a risk control layer.

Swing Trades, Day Trades and Longer Term Trading Plans:

This data is refined to distinguish trading plans for day trading, swing trading and long-term investment plans also for SMR. All of this is offered below the overview table.