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These 3 stocks will get you through any market correction - MDLZ, PG, KO [Video]

I first warned about potential market correction 2 weeks ago due to the red flags of the deteriorating of the market internals and market breadth. Last week the red flags are still around without improving hence I urge that trade management is still the priority.

On 15 Jul (Thurs) during the Asian session, I posted another update here in my telegram group to emphasize the shortening of the upward thrust with increasing of supply (refer to the screenshot below):

US market correction Jul 2021

Finally, the anticipated correction hit the market at this vulnerable position with increasing of supply and bearish spread. 

The immediate support level for S&P 500 is at 4280 (annotated in blue below) coincides with the demand line of the up channel followed by 4240.

Yesterday S&P 500 tested the support at 4240 with presence of demand. The bull is currently in charge with an attempt to rally up. A commitment above 4280 would signal for another up swing.

Meanwhile, watch the video below to find out the trading plan with low risk entry for these 3 stocks that will protect you from any market correction because of their defensive nature and strong price structure.

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Author

Ming Jong Tey

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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