Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: Johnny Canuck who wrote (53507)	12/18/2020 3:35:45 PM
From: Johnny Canuck	Read Replies (1) of 69180

T back below the top of the previous sideways channel. Looks like the breakout did not stick. Pulling back to a strong support level based on purchasing volume. A break of this level opens the potential to test the $28 level again. Not sure we see $26 without the whole market selling off. This is one of these stocks that you slowly accumulate on pullback to collect the approximate 7 percent dividend and for gradual appreciation (new lower stock price target of $34 revised from $38) as it works through its debt and acquisition of media products.

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