SPDR S&P METALS & MINING ETF (XME)NYSE
  Report No. 2445    Analysis by: Harry Aloof     SEPTEMBER 10, 2012

SPDR S&P METALS & MINING ETF (XME-NYSE): 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 low of $40.02 on Sep 4, 2012. Another rally saw prices penetrate resistance line "A", 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 downside 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
                          

Three Part
Technical Chart

Daily Candle Stick Chart
Point & Figure Chart
Technical Study

Price Objective:
$55.00
Risk/Reward:
$2.00 VS. $10.87
Risk/Reward Ratio:
5:1

 

 

home