Chart Patterns & Algorithmic Trader (Jan. 28, '20) (72)
SPY V-Bottom Pattern
s
Reviewed in CPAT
SPDR S&P 500 ETF (SPY) has formed a V-Bottom pattern on its daily chart
and trading above the breakout level of $339.18. V-Bottom patterns are
traded when price closes above the breakout level. A stop is placed below
the mid level of the V-Bottom pattern at $278.67. Targets are placed at
$413.7 to $434.0 and $492.5 to $534.8.
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