Tag: SPDR Select Sector – Financial

Financial Select Sector Stock Code XLF.NYS

Outlook

Price broke above the cloud in the previous trading session, changing the chart outlook to bullish. Conversion line and Base line had a bullish crossover and is hinting at a bullish price trend ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish price trend. MACD is hinting at a bullish price trend after a bullish crossover and moving above the zero line. If price can stay above the cloud, it could be heading towards the previous resistance at $36.03 in the next -3 weeks.

Strategy                  

$33.90                Buy

$36.00                Price Target

$32.90                Risk Management Stop

3 weeks              Trade Duration

SPDR Select Sector Fund – Financial Stock Code XLF.NYS

Outlook

Price reached a high on 16 August and has been on a decline since that high. The decline was supported by the cloud, keeping the uptrend intact. The low was also at the Fibonacci 62% of the price advance from $30.37 to $35.97. We think price might have reached the end of its correction. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is about to have a bullish crossover, hinting at a bullish price trend. We think price is likely to move higher to the previous price high at $35.97 in the next 2-3 weeks.

Strategy                  

$33.45                Buy

$35.95                Price Target

$32.45                Risk Management Stop

3 weeks              Trade Duration