SPDR S&P Regional Banking ETF (KRE)
With considerable bearish divergence on the weekly chart and a fragile daily chart, investors should be wary of a break below the trend line of early 2015 at 58.70. Clearing this area triggers a deep correction towards 54.45 and 51.30. Furthermore, chances of a new primary down trend will grow significantly with such a decline.
Exit-long and/or trading short once 58.70 gives way.
Near term trend: neutral
Long term trend: positive
Outlook: trend reversal or deep correction, negative < 58.70
Strategy: exit-long or trading-short < 58.70
Support: 58.70 / 54.45 / 51.30-
Resistance: 61.35 / 63.75 / 65.05+
Outlook cancelled/neutralized above 61.35
Total assets (apr 2018): USD 4.8 bln
Expense ratio: 0.35%
Dividend yield (indicated): 1.37%
KRE
Exit-long and/or trading short once 58.70 gives way.
Near term trend: neutral
Long term trend: positive
Outlook: trend reversal or deep correction, negative < 58.70
Strategy: exit-long or trading-short < 58.70
Support: 58.70 / 54.45 / 51.30-
Resistance: 61.35 / 63.75 / 65.05+
Outlook cancelled/neutralized above 61.35
Total assets (apr 2018): USD 4.8 bln
Expense ratio: 0.35%
Dividend yield (indicated): 1.37%
KRE
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