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A very decent round in the US this evening. Also, a nice following through from Friday/Thursday.
Best day for the sector since 2022!
Previous Post: Trade Idea: Buy SPDR Consumer Discretionary ETF
Code: ETF
Published Tuesday, 18 March 20h24 (U.S Trading Session)
HIGH RISK BUY IDEA therefore small-than-average position sizes may apply. The ETF has been sold off aggressively and is currently in an oversold range as well as approaching the prior swing lows. This may be a RANGE to starting building a buy/long position with the expectation that a base can be developed over the near term followed by a potential bullish reversal from the neutral or oversold conditions. Traders can consider starting an accumulation phase at current levels or lower (possibly with a 1/4 of the position and add if/when it trades lower). As always, traders could consider the following if/when the prices approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits. Time stop: 06 October 2025
TRADING LEVELS:
Entry:193.00
Target:212.00
Stop-loss:183.00
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