1NVEST S&P500 IT ETFShort
TECHnically, you should be careful
Big break yesterday on the medium-term support line and although the share price finds itself in somewhat OVERSOLD according to the 14-day RSI, I would be staying clear for now over the shorter-term. The next support level is the 200-day Moving Average (EMA) at R11.57, with a break and close below this level bringing back the R11.20 level as support. If I was a short-term trader (which I’m not), last mentioned will also act as my stop-loss level as a break below this level most probably bringing back early 10’s. Should this turn out to be a false break, could see the share price test R12.80.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.