fxs_header_sponsor_anchor

These 3 stocks will get you through any market correction - MDLZ, PG, KO [Video]

Get 60% off on Premium CLAIM OFFER

You have reached your limit of 5 free articles for this month.

BLACK FRIDAY SALE! 60% OFF!

Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.

coupon

Your coupon code

CLAIM OFFER

I first warned about potential market correction 2 weeks ago due to the red flags of the deteriorating of the market internals and market breadth. Last week the red flags are still around without improving hence I urge that trade management is still the priority.

On 15 Jul (Thurs) during the Asian session, I posted another update here in my telegram group to emphasize the shortening of the upward thrust with increasing of supply (refer to the screenshot below):

Finally, the anticipated correction hit the market at this vulnerable position with increasing of supply and bearish spread. 

The immediate support level for S&P 500 is at 4280 (annotated in blue below) coincides with the demand line of the up channel followed by 4240.

Yesterday S&P 500 tested the support at 4240 with presence of demand. The bull is currently in charge with an attempt to rally up. A commitment above 4280 would signal for another up swing.

Meanwhile, watch the video below to find out the trading plan with low risk entry for these 3 stocks that will protect you from any market correction because of their defensive nature and strong price structure.

I first warned about potential market correction 2 weeks ago due to the red flags of the deteriorating of the market internals and market breadth. Last week the red flags are still around without improving hence I urge that trade management is still the priority.

On 15 Jul (Thurs) during the Asian session, I posted another update here in my telegram group to emphasize the shortening of the upward thrust with increasing of supply (refer to the screenshot below):

Finally, the anticipated correction hit the market at this vulnerable position with increasing of supply and bearish spread. 

The immediate support level for S&P 500 is at 4280 (annotated in blue below) coincides with the demand line of the up channel followed by 4240.

Yesterday S&P 500 tested the support at 4240 with presence of demand. The bull is currently in charge with an attempt to rally up. A commitment above 4280 would signal for another up swing.

Meanwhile, watch the video below to find out the trading plan with low risk entry for these 3 stocks that will protect you from any market correction because of their defensive nature and strong price structure.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.