CME Group Inc., through its subsidiaries, operates contract markets
for the trading of futures and options on futures contracts worldwide.
It offers a range of products for trading and/or clearing across various
asset classes, based on interest rates, equity indexes, foreign
exchange, energy, agricultural commodities, and metals. The products
include exchange-traded; and privately negotiated futures and options
contracts and swaps. The company executes trades through its electronic
trading platforms, open outcry, and privately negotiated transactions,
as well as provides hosting, connectivity, and customer support for
electronic trading through its co-location services. It also offers
clearing and settlement services for exchange-traded contracts, as well
as for cleared swaps; and regulatory reporting solutions for market
participants through global repository services in the United States,
the United Kingdom, and Canada.
Take a look at the 1-year chart of CME (NASDAQ: CME) below with my added notations:
CME has been trending higher over the past year, and along the way it
has created a couple of levels to watch. First, the stock has formed a
clear resistance at $100 (red), which would also be a 52-week high
breakout if CME could manage to move above it. In addition, the stock is
climbing an up-trending support level (blue) since October. These two
levels combined have CME stuck within a common chart pattern known as an
ascending triangle. Eventually, the stock will have to break one of
those (2) levels.
The Tale of the Tape: CME has an up trending support
and a 52-week resistance level to watch. A long trade could be made on a
pullback to the support, or on a break above $100. A break below the up
trending support could be an opportunity to enter a short trade.
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