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Ipath.B Sugar Subindex TR Series B ETN (SGGB) Showing Bearish Technicals With Support At $41.13

Jul 12, 2018 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.com's patented trade-picking algorithms have identified an attractive covered-call trade on Ipath.B Sugar Subindex TR Series B ETN (<a href="http://www.marketintelligencecenter.com/symbol/SGGB">SGGB</a>). Look at the Nov 16, 2018 $41 covered call for a net debit in the $38.60 area.<br /> <br /> This trade has a duration of 127 days. The break-even point of this trade is the same as the net debit, which gives this trade 6.65% downside protection. If the stock closes at or above $41 at expiration this trade will return 6.21% or 17.86% (for comparison purposes only). <br /> <br /> SGGB closed Jul 11, 2018's trading session at $41.34. In the past year, the stock has hit a 52-week low of $41.15 and 52-week high of $51.82. Ipath.B Sugar Subindex TR Series B ETN stock has been showing support around $41.13 and resistance in the $41.65 range. Recent technical indicators for the stock are bearish.

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