SPXS – Hedge Against Downturn Turned Bullish
Chart Details
Price on Daily broke out of banana pattern.
Bullish EMA cross on Daily should occur with Daily close over $12.81
Weekly trend very close to bullish flip. When this occurs, $14 conservative price target.
10WeekMA cross around $13.50 should continue to fill gap at $15.
Opinion
We are long overdue for a pullback. Coronavirus now in 4 countries. Hong Kong on lock-down.
Gold and Silver looking bullish as well.
Next week 1/27 is going to be the biggest week of earnings. BA, AAPL, MCD, etc.
If AAPL misses earnings, there will be repercussions due to market cap of the company and being overpriced.
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts and on www.moneypatterns.com
Price on Daily broke out of banana pattern.
Bullish EMA cross on Daily should occur with Daily close over $12.81
Weekly trend very close to bullish flip. When this occurs, $14 conservative price target.
10WeekMA cross around $13.50 should continue to fill gap at $15.
Opinion
We are long overdue for a pullback. Coronavirus now in 4 countries. Hong Kong on lock-down.
Gold and Silver looking bullish as well.
Next week 1/27 is going to be the biggest week of earnings. BA, AAPL, MCD, etc.
If AAPL misses earnings, there will be repercussions due to market cap of the company and being overpriced.
About Me
www.moneypatterns.com
Options Strategies, Video Technical Analysis, Instant Alerts, Specific Options Order Entry Details, Daily Updates, Equities & Crypto, Weekly Breakdowns, Charting Service, & More in Members Area!
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts and on www.moneypatterns.com