Despite September's correction in the stock market, the long-term technical setup for further upside is intact heading into the November election, according to Bank of America.
Encouraging margin debt data suggests that the current market sell-off is a seasonal correction, and not a long-term top, according to BofA.The September correction in the stock market should be viewed as a seasonal correction, and not as a long-term top, according to Bank of America. Specifically, a completed "cup and handle" pattern suggests the S&P 500 could rise to 3,700, representing potential upside of 12% from Friday's close. Additionally, a longer-term target of 4,300 is also derived from the technical analysis pattern, representing 30% upside from Friday's close.
A cup and handle is a bullish continuation pattern that is best defined as a sell-off in a security, followed by a recovery back to the highs seen prior to the sell-off, followed by a mild correction. From there, the security is set to move higher if it breaks above the handle correction level.
Incredible
BofA deez nuts
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Stock picks to buy, best global industrial software companies: BofA - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Spend 30% of your time making your product and 70% promoting it - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Like dieting? Something tells me she spends about 70% of the time sitting on her product. Yep, that’s why I bathe 3 hours everyday and spend the next 7 hours after promoting my bath water.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Stock market live updates: Dow jumps 500 points, Big Tech climbs, Pelosi says stimulus deal possibleThe market continued to push higher in the opening hour of trading, with the Dow up 500 points. Follow along with the latest stock market updates here: Thank You President Trump! Don’t care about the stock market... Modt average Americans don’t have a pit to piss in so... WhoCares
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »
Dow Jumps 500 Points As Banks And Tech Stocks RallyThe Dow jumped 500 points as banks and tech stocks rally by skleb1234 skleb1234 I AM JESUS CHRIST AND I DO NOT SUPPORT RACISM !! DONALD TRUMP IS THE OLD SERPENT 'THE DRAGON' 'THE DEVIL'. I WILL DEFEND AFRO-AMERICANS !! I came to step on the serpent's head. 'Revelation of the bible' End of the world
Источник: Forbes - 🏆 394. / 53 Прочитайте больше »