Apr 01, 2021 (Stock Traders Daily via COMTEX) -- The next move in a stock's price is often identifiable in advance. This Spdr S&p 500 /zigman2/quotes/209901640/composite SPY +0.03% report attempts to do that, and in the process help investors learn how price acton can be revealing. Trading plans for SPY make these observations actionable, but the data on this page is not real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
The Technical Summary and Trading Plans for SPY 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 SPY Report.
The technical summary data tells us to buy SPY near 399.16 with an upside target of 410.53. This data also tells us to set a stop loss @ 398.01 to protect against excessive loss in case the stock begins to move against the trade. 399.16 is the first level of support below 399.51 , and by rule, any test of support is a buy signal. In this case, support 399.16 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of SPY as it gets near 410.53 with a downside target of 399.16. We should have a stop loss in place at 411.72though. 410.53 is the first level of resistance above 399.51, and by rule, any test of resistance is a short signal. In this case, if resistance 410.53 is being tested, a short signal would exist.
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