Breakout Expected In The Global X Social Media ETF (SOCL)

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Clik here to view.Morpheus Trading: Last Friday, we established a buy entry in Guggenheim Shipping ETF (NYSEARCA:SEA) on breakout above the two-day high. We really liked the bullish consolidation that formed around the 50-day MA, especially when the price action tightened in December.

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After clearing prior highs at $19 and breaking the current range high at $20.50, there is very little resistance until the $24 area, so we might be able to hold on to the position for a 15% to 20% move.

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