Data Speaks About SPY:
1️⃣ Trading above key support zone (480/495): The stock is holding above critical levels, which suggests a potential for stability or a rebound if these levels hold.
2️⃣ Below 10-day MA: Currently trading below the 10-day moving average, indicating short-term bearish sentiment and lack of upward momentum.
3️⃣ Failed attempt to re-enter downward channel after sharp decline: Despite a brief attempt to recover, the price failed to re-enter the downward channel, signaling persistent selling pressure.
🔽 Outlook: While the stock shows oversold conditions, the bearish momentum is still intact. However, as long as it stays above the 480/495 support zone, there’s potential for a rebound.
1️⃣ Trading above key support zone (480/495): The stock is holding above critical levels, which suggests a potential for stability or a rebound if these levels hold.
2️⃣ Below 10-day MA: Currently trading below the 10-day moving average, indicating short-term bearish sentiment and lack of upward momentum.
3️⃣ Failed attempt to re-enter downward channel after sharp decline: Despite a brief attempt to recover, the price failed to re-enter the downward channel, signaling persistent selling pressure.
🔽 Outlook: While the stock shows oversold conditions, the bearish momentum is still intact. However, as long as it stays above the 480/495 support zone, there’s potential for a rebound.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.