S&P global (SPGI) a financial information analytics company, is the parent of S&P Global Ratings, S&P Global Market Intelligence, and S&P Global Platts. It also owns the famous S&P Dow Jones Indices. Financial markets have grown strongly over the past couple of decades, demand for financial information and analytics is expected to remain strong.
SPGI has been in a long-term up-trend since 2010, as evident from the 10-year monthly chart of the stock. This trend has accelerated 2017 onwards. The stock had a major fall in February and March of 2020. It fell about 17% from its high. Since then, the stock has pulled back 14%.
A key indicator of the recent reversal is the bounce up from the bottom of the long-term uptrend shown by the bottom yellow line. Additionally, the stock has made higher highs and higher lows consistently since 2016. The only exceptions have been late 2018 and the recent fall in March 2020.
With the reversal in the downtrend, a long position can be made with a first target of $335, which is the top of the long-term trend shown by the top yellow trend line.
Position taken at $268.44. Stop loss 23.78% below. Take profit target $335 represents 25% profit.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.
Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place. and are not for trading purposes or advice.
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