In this bearish market, few names are making new highs, let alone getting near one. CME Group is a rare stock that is in striking distance of tagging a new high. The stock shows a nice trend of higher highs and higher lows, and after a brief consolidation period we should see this stock move back up.
What’s truly remarkable is that even during the recent market volatility, this stock has held like a champ. Volume has started to pull back as CME consolidates, but the RSI is solid and momentum indicators are moving back up. I like CME to eventually move over 200 ma.
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About CME Group (CME)
CME Group Inc., through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals.
The company executes trade through its electronic trading platforms, open outcry, and privately negotiated transactions, as well as provides hosting, connectivity, and customer support for electronic trading through its co-location services. It also provides clearing and settlement services for exchange-traded contracts, as well as for cleared swaps; and regulatory reporting solutions for market participants through its repository services in the United States, the United Kingdom, Canada, and Australia.
In addition, the company offers a range of market data services, including live quotes, delayed quotes, market reports, and historical data services, as well as index services. It serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks.
The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.