SGG (Sugar ETN) will be added as an Active Long Swing Trade here as it is poised to print a bullish engulfing candlestick with 30-minutes left in the trading session with bullish divergences forming on the PPO & RSI. The price targets are T1 at 27.64 & T2 at 30.22 with the possibility of additional targets, depending on how the charts develop going forward. The suggest stop is a daily close below 24.00 (if targeting T2) with a suggested beta-adjusted position size of 1.0.
SGG daily March 19th
SGG was recently posted as a trade setup with an entry TBD pending in the March 7th post titled A Bottom In SGG, Sugar ETN, May Be Close. Props to member @ixtlanian for bringing up today’s bullish engulfing candlestick in the trading room earlier today… thanks!