SPDR S&P METALS & MINING ETF
Technical Viewpoint: From a low
of $37.10 on Jul 25, 2012 prices
rallied, reaching a
high of $44.00
on Aug 21, 2012. A
decline saw prices pull back, reaching a
$40.02 on Sep 4, 2012.
Another rally saw prices penetrate
resistance, closing 9/7/12
at $43.92. Technicals: MACD Index (MACD): A Buy Alert!
was given on Sep 6, 2012 when the solid line crossed the dotted line to the upside.
Support: Remains at $42.30. Resistance: Is at $44.52.
Point & Figure: Reversed to the upside on Sep 7, 2012. A P&F upside
reversal takes place at $41.00. Summary: Technical indicators have turned bullish. BUY! SPDR S&P METALS & MINING ETF
(XME-NYSE) @ $44.13 Stop: Use a protective stop of $42.13.
SPDR S&P METALS & MINING ETF is currently trading @ $43.92 plus $2.14 on Sep 7, 2012. Price Objective:
$55.00. Risk/Reward: $2.00 VS. $10.87. Today's Risk Reward Ratio: 5:1
Daily Candle Stick Chart
Point & Figure Chart
View full size chart
$2.00 VS. $10.87