Bank of America Strategist Recommends Hedging Against Potential S&P 500 Index Decline, Says This Precious Metal Is Primed To Surge – and It’s Neither Gold nor Silver
A Bank of America analyst advises investors to hedge against a potential decline in the S&P 500, which closed at 6,466. Paul Ciana warns that a drop below 6,200 could indicate a bearish trend. He highlights platinum as a promising investment opportunity, currently priced at $1,376 per ounce, following a recent correction.
A Bank of America (BofA) analyst is recommending one S&P 500 play as the stock market is surging.
In a new CNBC interview, Paul Ciana, BofA Securities head of technicals research, says investors may want to protect themselves against a sudden S&P 500 correction as bearish signals flash.
Ciana also says that an S&P 500 decline below 6,200 points may signal the start of a bearish trend.
The S&P 500 closed Friday at 6,466, up more than 96 points on the day.
Lastly, the analyst says that platinum is presenting a solid opportunity after a recent correction.
Platinum is hovering around $1,376 per ounce at time of writing.
