According to Stock Traders Daily, a 20-year industry veteran, #investors can use the #priceaction in Spdr S&p Metals & Mining (NYSE: XME) to foretell upcoming changes. A current example is provided below. There are trading plans for XME, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Strong | Neutral | Strong |
P1 | 0 | 0 | 36.36 |
P2 | 41.17 | 40.80 | 39.26 |
P3 | 42.32 | 42.37 | 42.50 |
Long Term Trading Plans for XME
April 30, 2021, 9:15 am ET
The Technical Summary and Trading Plans for XME help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this XME Report.
XME - (Long) Support Plan
The technical summary data tells us to buy XME near 39.26 with an upside target of 42.50. This data also tells us to set a stop loss @ 39.15 to protect against excessive loss in case the stock begins to move against the trade. 39.26 is the first level of support below 41.14 , and by rule, any test of support is a buy signal. In this case, support 39.26 is being tested, a buy signal would exist.
XME - (Short) Resistance Plan
The technical summary data is suggesting a short of XME as it gets near 42.50 with a downside target of 39.26. We should have a stop loss in place at 42.62though. 42.50 is the first level of resistance above 41.14, and by rule, any test of resistance is a short signal. In this case, if resistance 42.50 is being tested, a short signal would exist.