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G-X Nasdaq China Tech ETF (QQQC) Showing Bearish Technicals With Resistance At $29.01

Dec 07, 2017 ( via COMTEX) --

After Dec 6, 2017aEUR(TM)s trading in G-X Nasdaq China Tech ETF (<a href="">QQQC</a>) the algorithms behind's Artifical Intelligence Center picked out a trade that offers a 5.94% or 11.41% (for comparison purposes only), while providing 8% downside protection. The trade is a Jun 15, 2018 covered call at the $28 level for a net debit of about $26.42. 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 $28.37 and $29.01, respectively.

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