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SPDR S&P 500 ETF TRUST

SPY - Testing Breakout Support

By Chartimistic
Updated
The stock price is currently overbought & VIX was around 12 going into today's trading, suggesting increased volatility in the near-term. Bulls want to see this support hold to continue their momentum but we may see another pullback that takes the price back into the ascending triangle pattern.
Comment
Breakout momentum has continued. The current price target is $318 but we have to be cautious for a pullback but for now, the stock remains above the 10-day EMA.
Ascending TriangleTechnical IndicatorsoverboughtSPDR S&P 500 ETF (SPY) supporttestingTrend AnalysisTriangle
Chartimistic

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