Allstate (ALL) Trading Report

January 21, 2022, 08:30 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Allstate (NYSE: ALL) while incorporating prudent risk controls. 

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ALL 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, if ALL is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each 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 it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ALL too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for ALL

• Buy ALL slightly over 116.93 target 129.43 stop loss @ 116.59 Details

The technical summary data tells us to buy ALL near 116.93 with an upside target of 129.43. This data also tells us to set a stop loss @ 116.59 to protect against excessive loss in case the stock begins to move against the trade. 116.93 is the first level of support below 119.49 , and by rule, any test of support is a buy signal. In this case, support 116.93 would be being tested, so a buy signal would exist.

• Short ALL under 129.43, target 116.93, stop loss @ 129.8 Details

The technical summary data is suggesting a short of ALL as it gets near 129.43 with a downside target of 116.93. We should have a stop loss in place at 129.8though. 129.43 is the first level of resistance above 119.49, and by rule, any test of resistance is a short signal. In this case, if resistance 129.43 is being tested, so a short signal would exist.

Swing Trading Plans for ALL

• Buy ALL slightly over 121.73, target 125.37, Stop Loss @ 121.38 Details

If 121.73 begins to break higher, the technical summary data tells us to buy ALL just slightly over 121.73, with an upside target of 125.37. The data also tells us to set a stop loss @ 121.38 in case the stock turns against the trade. 121.73 is the first level of resistance above 119.49, and by rule, any break above resistance is a buy signal. In this case, 121.73, 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.

• Short ALL near 121.73, target 116.93, Stop Loss @ 122.08. Details

The technical summary data is suggesting a short of ALL if it tests 121.73 with a downside target of 116.93. We should have a stop loss in place at 122.08 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, 121.73, 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 ALL

• Buy ALL slightly over 120.50, target 121.73, Stop Loss @ 120.22 Details

If 120.50 begins to break higher, the technical summary data tells us to buy ALL just slightly over 120.50, with an upside target of 121.73. The data also tells us to set a stop loss @ 120.22 in case the stock turns against the trade. 120.50 is the first level of resistance above 119.49, and by rule, any break above resistance is a buy signal. In this case, 120.50, 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.

• Short ALL near 120.50, target 116.93, Stop Loss @ 120.78. Details

The technical summary data is suggesting a short of ALL if it tests 120.50 with a downside target of 116.93. We should have a stop loss in place at 120.78 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, 120.50, 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.

ALL Ratings for January 21:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	116.93
P2	120.50	121.73	129.43
P3	122.17	125.37	141.89

Support and Resistance Plot Chart for ALL

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