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S&P Oil & Gas Equipment & Services SPDR (XES) Showing Bearish Technicals With Support At $18.28

Apr 21, 2017 ( via COMTEX) --

After Apr 20, 2017aEUR(TM)s trading in S&P Oil & Gas Equipment & Services SPDR (<a href="">XES</a>) the algorithms behind's Artifical Intelligence Center picked out a trade that offers a 7.27% or 18.05% (for comparison purposes only), while providing 9.19% downside protection. The trade is a Sep 15, 2017 covered call at the $18 level for a net debit of about $16.78. The net debit is also the breakeven point for this trade. Technical indicators for the stock have been bearish recently and support and resistance have been in the area of $18.28 and $18.78, respectively.

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