CFD Trading – Buy SPDR S&P 500 ETF (SPY.NYS) @ $344.50. Stop at $334.50 and Target at $359.50

SPDR S&P 500 ETF Stock Code SPY.NYS

There was a price correction and twice during these correction, price decline was halted by the cloud, keeping the bullish trend intact. For the past few days, price has again been supported by the upper edge of the cloud. Conversion line and Base line had a bullish crossover, hinting of a bullish trend ahead. Lagging Span is above price of 26 days ago and above the cloud at the moment, confirming the bullish trend. MACD is bullish and a bullish crossover was seen. We think price could be about to test the previous high of $359.09 again soon.

$344.50              Buy
$359.00              Price Target
$334.50              Risk Management Stop
3 weeks              Trade Duration

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