STXPRO trade ideas
$JSESTXPRO Satrix Property ETF. Back into channel ? After STXPRO broke what looked like a bull flag at around the 800 level, both targets of 865 and 916 (911 actual) have been reached. The ETF has since broken back below the 865 level and could once again start to consolidate between this 607 and 865 level unless some bullish looking pattern starts to emerge. No position currently and just watching.
$JSESTXPRO Satrix Property ETF. Second target within reachAfter a very bullish looking flag breakout around the 780 level the first target was reached on this share. The second target around the 916 level is within reach today. I'm expecting some consolidation around the the 920-930 levels after which I will reevaluate. Property have got a lot of upside potential after a few years of dismal performance. One to continue to watch into the future.
Bleak about property prospects? Short 'em.SATRIX's property ETF is a perfect instrument for just that.
Price has been trending down for a year and a half.
The 1575 level which provided so much support on the way down was broken over a month ago and is now acting as resistance.
See those big old wicks on the upside going back through 2019? Those a rallies that were kicked in the teeth, turning into big old liquidity sucks.
And now price is forming an upward sloping channel - a close below the channel sets us up for a nice short opportunity.
Tired of your house price depreciating? Why not hedge yourself?