How Can the Price Action of Brown-Forman Inc Class B ($BF.B) be Used to Our Advantage?

In a recent analysis by financial journalist Randall S., he explores the potential trading plans for Brown-Forman Inc Class B ($BF.B) based on the technical summary data. The data suggests that investors should consider buying BF.B slightly over $64.99 with an upside target of $68.89, setting a stop loss at $64.8 to protect against excessive loss. On the other hand, a short position could be considered if BF.B approaches $68.89, with a downside target of $64.99 and a stop loss at $69.09.

These trading plans are based on the levels of support and resistance indicated by the technical summary data. If the price of BF.B breaks above the resistance level of $68.89, it could be a bullish signal, prompting a long resistance plan. Conversely, if the price tests the resistance level and fails to break through, it could be a bearish signal and a short position may be warranted.

Overall, the analysis provides potential strategies for investors to capitalize on the price action of BF.B. However, it's important for investors to conduct their own research and consider other factors before making any investment decisions.

Source: Yahoo Finance, Proactive Investors

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