Tag: XLE

CFD Trading – Sell SPDR Select Sector Fund – Energy (XLE.NYS) @ $86.00. Stop @ $88.90 and Target @ $80.05.

Nicholas

SPDR Select Sector Fund – Energy Select Sector Stock Code XLE.NYS

Outlook

Price closed below the cloud in the previous trading session, changing the chart outlook to bearish. Conversion line and Base line remained in a bullish crossover. Lagging Span is below price of 26 days ago but is inside the cloud at the moment.  MACD has bearish crossover and is hinting at a bearish price trend. If price stays below the cloud, it could be heading towards the previous support at $80.05 in the next 2-3 weeks.

Strategy                  

$86.00                Sell

$80.05                Price Target

$88.90                Risk Management Stop

3 weeks              Trade Duration

CFD Trading – Buy Energy Select Sector SPDR Trust (XLE.NYS) at $33.50. Stop at $29.90 and Target at $39.50.

Nicholas
Energy Select SPDR Stock Code XLE.NYS

Outlook
Price broke above the cloud on 11 November but was unable to stay above the cloud. However the decline managed to stay above a previous resistance turned support line at $31.65. Price is starting another attempt to cross over the cloud.  Conversion and Base lines had a bullish crossover, hinting of a bullish trend ahead. Lagging Span is above price of 26 days ago but is below the cloud at the moment, unable to confirm the bullish trend. MACD has a bullish crossover and is moving over the zero line, hinting of a bullish trend ahead. We think price can move higher to $39.50 if it does not drop below $30.

Strategy                  
$33.50                Buy
$39.50                Price Target
$29.90                Risk Management Stop
3 weeks              Trade Duration