Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.
Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.
Risky Level: Price at which to enter a GTC limit order to sell on strength.
General Electric (GE) ($24.36) set a multi-year high at $24.95 on July 19 then traded as low as $22.92 on Sept. 3. The buy rated Dow component is above its 50-day SMA at $23.93, has a weekly value level at $23.78, a monthly pivot at $24.48 and semiannual risky level at $26.68.(HON) ($85.75) set a multi-year high at $87.55 on Sept. 19. The buy rated diversified technology and manufacturing company has a semiannual value level at $84.88 and a monthly risky level at $88.52. Ingersoll Rand (IR) ($63.35) set a multi- year high at $66.62 on Sept. 24 and held its 50-day SMA at $62.98 on Wednesday. The hold rated industrial products company has a semiannual value level at $62.60 and a monthly risky level at $65.18. Morgan Stanley (MS) ($28.63) set a multi-year high at $29.49 on Sept. 18. The hold rated financial services firm moved above its 50-day SMA at $27.10 on Thursday and has a monthly value level at $26.90 with a quarterly pivot at $27.72 and semiannual risky level at $29.47. Schlumberger (SLB) ($92.18) set a multi-year high at $92.39 on Wednesday. The hold rated oil and gas services company has a semiannual value level at $87.26 with a weekly pivot at $91.59 and semiannual risky level at $95.14.
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