SPDR S&P METALS & MINING ETF
(XME-NYSE):
Technical Viewpoint: From a high
of $37.10 on Jul 25, 2012 prices
declined, reaching a
low of $44.00
on Aug 21, 2012. A
rally saw prices pull back, reaching a
high of
$40.02 on Sep 4, 2012.
Another decline saw prices penetrate
support, closing 9/7/12
at $43.92. Technicals: MACD Index (MACD): A Sell 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 downside on Sep 7, 2012. A P&F downside
reversal takes place at $41.00. Summary: Technical indicators have turned bearish. SELL! 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 minus $2.14 on Sep 7, 2012. Price Objective:
$55.00. Risk/Reward: $2.00 VS. $10.87. Today's Risk Reward Ratio: 5:1
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