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One of the noteworthy developments in recent days has been the move in social media stocks. The group attracted strong buying support Tuesday as Facebook CEO Mark Zuckerberg spoke at a joint hearing of the Senate Judiciary and Commerce committees about Facebook’s treatment of user data. The company has been under pressure after March media reports revealed that a researcher sold Facebook user data to an outside firm, Cambridge Analytica, which has been associated with Donald Trump’s campaign.  The Global X Social Media ETF (SOCL) jumped 2.09 percent to 34.13, bringing its YTD gains up to 3.6%, outperformed the S&P by a wide margin.  Now the question is whether the rally has more legs?  Below is an update look at a trade in SOCL.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – Global X Social Media ETF (daily)

Our “U.S. Market Trading Map” painted SOCL bars in green (buy) – see area ‘A’ in the chart. The first dominant feature on the chart is the rising trend started in early 2017.  The second dominant feature of the chart is the downward trend started in early March 2018.  The correction pushed the ETF down…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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