Using a 20-day ranged Fibonacci, investors can see that SPY-S&P-500 has closed yesterday 18/07/22 at $381. Using a 20-day ranged Fibonacci, investors can see that this price is closer to its resistance level of $397 whereas it’s support is equal to $363. This is a bareish signal, investors should expect a correction closer to it’s support.
For further accuracy, using standard deviation; Bollinger bands have been applied using a 20-day range. The Bollinger’s lower bound is equal to $369, it’s upper bound is equal to $392. This Bollinger further supports the bareish signals presented by the Fibonacci given that it’s currently priced closer to the Bollinger’s upper bound. Therefore, it presents an additional bareish signal with a smaller and more accurate range in comparison to the Fibonacci.
A MACD indicator is a 9-day EMA, it is used to identify turns. The blue MACD line appears to be running parallel to the red signal line. This suggests neither a bearish nor a bullish sentiment. Based on the MACD DEMA it would be reasonable to anticipate a steady momentum of price movement.
All things considered; I would anticipate steady, bearish underlying movements of the SPY-S&P-500. The buyer should set a strike price in line with the Fibonacci’s $397 resistance. I anticipate the stock to reach it’s lower bound Bollinger level of $369 by the end of the week.
For further accuracy, using standard deviation; Bollinger bands have been applied using a 20-day range. The Bollinger’s lower bound is equal to $369, it’s upper bound is equal to $392. This Bollinger further supports the bareish signals presented by the Fibonacci given that it’s currently priced closer to the Bollinger’s upper bound. Therefore, it presents an additional bareish signal with a smaller and more accurate range in comparison to the Fibonacci.
A MACD indicator is a 9-day EMA, it is used to identify turns. The blue MACD line appears to be running parallel to the red signal line. This suggests neither a bearish nor a bullish sentiment. Based on the MACD DEMA it would be reasonable to anticipate a steady momentum of price movement.
All things considered; I would anticipate steady, bearish underlying movements of the SPY-S&P-500. The buyer should set a strike price in line with the Fibonacci’s $397 resistance. I anticipate the stock to reach it’s lower bound Bollinger level of $369 by the end of the week.
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