(OVM) Long-term investment analysis

November 24, 2024, 11:10 PM ET, BY Robert S. – Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer term trading plans for OVM

• Buy OVM near 21.99 and target a stop loss of 22.31 at 21.93 Details

The technical summary data tells us to buy OVM at around 21.99 with an upside target of 22.31. This data also tells us to set a stop loss at 21.93 to protect ourselves from excessive losses in case the stock starts moving against the trade. 21.99 is the first level of support below 22.2686 and basically any test of support is a buy signal. In this case, the support at 21.99 would be tested, so a buy signal would be present.

• Short OVM just below 22.31, target 21.99, stop loss at 22.37 Details

The technical summary data suggests that OVM should be short as it approaches the 22.31 level and the downside target is at 21.99. However, we should have a stop loss at 22.37. 22.31 is the first resistance level above 22.2686, and basically any test of resistance is a short signal. In this case, if the resistance 22.31 is tested, a short signal is present.

Swing trading plans for OVM

• Buy OVM slightly above 22.31, target n/a, stop loss at 22.25 Details

If 22.31 starts to break higher, the summary technicals tell us to buy OVM just above 22.31 with an upside target of n/a. The data also tells us to set a stop loss at 22.25 in case the stock turns against the trade. 22.31 is the first resistance level above 22.2686 and basically any break above resistance is a buy signal. In this case, 22.31, 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 OVM slightly near 22.31, target 21.99, stop loss at 22.37. Details

Technical summary data suggests shorting OVM if it tests 22.31, with a downside target of 21.99. However, we should have a stop loss at 22.37 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if the resistance 22.31 is tested, a short signal would be present. Since this plan is a short plan based on a resistance test, it is called a short resistance plan.

Day trading plans for OVM

• Buy OVM slightly above 22.31, target 22.88, stop loss at 22.26 Details

If 22.31 starts to break out higher, the technical summary data tells us to buy OVM just above 22.31 with an upside target of 22.88. The data also tells us to set a stop loss at 22.26 in case the stock turns against the trade. 22.31 is the first resistance level above 22.2686 and basically any break above resistance is a buy signal. In this case, 22.31, 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 OVM slightly near 22.31, target 21.99, stop loss at 22.36. Details

Technical summary data suggests shorting OVM if it tests 22.31, with a downside target of 21.99. However, we should have a stop loss at 22.36 in case the stock starts moving against the trade. Basically every resistance test is a short signal. In this case, if the resistance 22.31 is tested, a short signal would be 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 Overlay Shares Municipal Bond Etf (OVM) available here: OVM.

OVM ratings for November 24th:

AI generated signals for OVM

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Technically, Overlay Shares Municipal Bond Etf (NYSE: OVM) offers opportunities for traders who watch how the stock price fluctuates over time.

Warning:

This is a static report. The following data was valid at the time of publication, but support and resistance levels for OVM 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 OVM 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 serves as both an ideal place to enter a position (avoid trading in the middle of a trading channel) and 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 OVM. All of this is offered below the overview table.