Spdr S&p Metals & Mining XME Proactive Strategies

Longer Term Trading Plans for XME
  • Buy XME slightly over 50.22 target 58.79 stop loss @ 50.07 Details
  • The technical summary data tells us to buy XME near 50.22 with an upside target of 58.79. This data also tells us to set a stop loss @ 50.07 to protect against excessive loss in case the stock begins to move against the trade. 50.22 is the first level of support below 52.46 , and by rule, any test of support is a buy signal. In this case, support 50.22 is being tested, a buy signal would exist.

  • Short XME slightly under 58.79, target 50.22, stop loss @ 58.96 Details
  • The technical summary data is suggesting a short of XME as it gets near 58.79 with a downside target of 50.22. We should have a stop loss in place at 58.96though. 58.79 is the first level of resistance above 52.46, and by rule, any test of resistance is a short signal. In this case, if resistance 58.79 is being tested, a short signal would exist.

Swing Trading Plans for XME
  • Buy XME slightly over 53.24, target 58.79, Stop Loss @ 53.09 Details
  • If 53.24 begins to break higher, the technical summary data tells us to buy XME just slightly over 53.24, with an upside target of 58.79. The data also tells us to set a stop loss @ 53.09 in case the stock turns against the trade. 53.24 is the first level of resistance above 52.46, and by rule, any break above resistance is a buy signal. In this case, 53.24, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short XME slightly near 53.24, target 50.90, Stop Loss @ 53.39. Details
  • The technical summary data is suggesting a short of XME if it tests 53.24 with a downside target of 50.90. We should have a stop loss in place at 53.39 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 53.24, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for XME
  • Buy XME slightly over 52.49, target 53.24, Stop Loss @ 52.37 Details
  • If 52.49 begins to break higher, the technical summary data tells us to buy XME just slightly over 52.49, with an upside target of 53.24. The data also tells us to set a stop loss @ 52.37 in case the stock turns against the trade. 52.49 is the first level of resistance above 52.46, and by rule, any break above resistance is a buy signal. In this case, 52.49, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short XME slightly near 52.49, target 50.90, Stop Loss @ 52.61. Details
  • The technical summary data is suggesting a short of XME if it tests 52.49 with a downside target of 50.90. We should have a stop loss in place at 52.61 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 52.49, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

XME Ratings for November 27:

Term →Near Mid Long
Rating Neutral Strong Neutral
P1 0 0 42.28
P2 52.49 50.90 50.22
P3 53.63 53.24 58.79
Triggers may have already come
Chart of XME with Longer Term Pivots

XME Long Term Analysis for November 27 2022

Blue = Current Price
Red= Resistance
Green = Support

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Don't over think it!  Trading Spdr S&p Metals & Mining (NYSE: XME) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for XME change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if XME is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for XME too.  All of these are offered below the Summary Table.