Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
XLP - Staples are lagging the market
SPDR Select Sector Fund - Consumer Staples
XLP - Staples are lagging the market
By Trading-Capital
Follow
Follow
Sep 25, 2023
0
Cheer
Cheer
Sep 25, 2023
XLP has had horrific downside price action over the last several weeks.
As it approaches the Weekly 200 MA I do anticipate a bounce to occur.
Not many sectors are near the weekly 200 MA.
Buying this at the Weekly 200 MA has proven to be a great long term entry for investors.
If a bounce occurs and bearish consolidation on the weekly chart occurs, this sector will likely be a good short side play.
I would never short this sector now since its had a big decline. A bounce is more favourable at this point.
Chart Patterns
COST
SPDR S&P 500 ETF (SPY)
TGT
Trend Analysis
walmart
WMT
XLP
Trading-Capital
Follow
Follow
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.