The S&P 500 is currently trading below the 4,000 mark again at 3,969. The next starting point on the downside will now be the 10-EMA on the weekly chart at 3930 points. If it continues to decline, the price may follow a decline to the strong support area around 3800 points. If the S&P 500 continues to follow the long-term downtrend channel on the weekly chart, a decline in price to the lower boundary of the downtrend channel at 3300 points would be expected.
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Conclusion:
Traders may speculate on another decline in the S&P 500 in the range of 3,980/4,000 points. Short position with unrestricted turbo warrant (SH6S1Z) of Société Générale. The target price would be around 3800 points. The stop can be placed at 4050 pips.
| Trade Idea: S&P 500 | |
|---|---|
| Basic | S&P 500 (ISIN: US78378X1072) |
| Product type | Best unlimited turbo order |
| issuer | Societe General |
| ISIN/WKN leveraged product | DE000SH6S1Z0 / SH6S1Z |
| Duration | open end |
| Knockout Put Price (date) | €4.48/€4.49 (25/01/2023, 16:10) |
| Variable on base price | 4458.49 points |
| knockout threshold | 4379.86 points |
| lever | 8.28 |
| Knockout distance | 10.10% |
| Stop Loss Put | 3.75 euros |
| target placement | EUR 6.04 (+44.10%) |
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