Investment Recommendations April 28th | Hacked: Hacking Finance
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Investment Recommendations April 28th

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Investment Recommendations April 28th

Introduction

This article was posted on Friday, 17:47, UTC.

S&P 500: Short-Term Sell

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S&P 500, 4-Hour Chart Analysis (with NASDAQ comparison)

The S&P 500 index continues to lag the leaders of the market, as the rally is getting narrower, with only the major tech names pushing the stocks higher. The financial sector remains well below the March highs, warning of underlying weakness in the market.

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The S&P 500 is also below the prior highs, providing a possible long-term short-entry with a favorable profit/risk ratio. The short-term support near the 2355 level serves an optimal initial target while further support levels are found near 2332 and 2319. Long-term traders could set the initial target near the 2300 level

Monero: Short-Term Buy (Update)

 

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Monero, 4-Hour Chart Analysis

Monero was helped by the broad rally in cryptocurrencies this week, getting close to our target near $25 yesterday, but the break-out stalled near the short-term resistance zone, possibly pointing to a failed momentum move. This development justifies a new stop-loss near the $22 level, to protect the short-term position from a possibly strong bearish move.

Long-term traders with a core position could still wait for a move to new highs as the long-term support levels remain intact following the extended consolidation period. Long-term resistance is found near $26, and a move above that level could open up the road to the $30 level.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR Ershad

    Posted on 8:41 pm April 28, 2017.

    Hi Mate,

    Thanks for your article, any recommendation on XRP?

    Kind regards
    Ershad

    • user

      AUTHOR Mate Cser

      Posted on 12:17 am April 29, 2017.

      Hi Ershad,

      trading volumes are still relatively low in Ripple, there could be more upside here. The break-out might easily take it to $0.06 in the coming days, but be careful with position sizing, this currency is volatile even with cryptocurrency standards, and even a spike below $0.04 won’t inevitably mean the end of the move, so placing a stop-loss is tricky.

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