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XLC trade ideas

EPISODE 10/11: US COMMUNICATIONS-CUP & HANDLE TARGETS TA(XLC)Episode 10/11 : US (SPX) Sectors Technical Analysis Series - 31st of July 2019 Brief Explanation of the chart(since everything is labelled on there): (30 seconds read) First and foremost : Similarly to the XLRE Index, the XLC was formed even more recently(2018), so obviously due to the lack of data this analysis should be seen at most as informative . In addition, I am not as interested in this particular sector. That doesn't take away from the objective of holistically analysing the whole market in the greatest of details. Now- time to break down the chart based on the current data: XLC chart shows a very distinctive Cup & Handle pattern . Breaking above the purple square , will result in a bullish confirmation ; targeting #1: 55$ and later on 60$ as Target #2 . Furthermore, the structural supports have been labelled. Although due to the lack of data, they will mostly depend on the negative momentum and very little on the currently labelled squares. Likewise as in the previous EPISODES , the same conditional events(trade deals/elections) apply to this sector. This concludes the technical analysis on the US communications(XLC) sector. This is just a brief "free" and very detailed analysis. Perhaps in the future I might form a premium group, to whose members I will provide all the details of my research. >>I do not share my ideas for the likes or the views. This channel is only dedicated to well informed research and other noteworthy and interesting market stories.>> However, if you'd like to support me and get informed in the greatest of details, every thumbs up or follow is greatly appreciated ! Step_Ahead_ofthemarket- Previous episodes on the US Sectors : EPISODE 9 : US REAL ESTATE ( XLRE ) EPISODE 8 : US CONSUMER STAPLES ( XLP ) Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references- contact me through any of my channels.
AMEX:XLCLong
by step_ahead_ofthemarket
2
5% Bounce Incoming: XLCAs you might know, I love my divergences. I think it is one of the easiest ways to spot reversals without lag (i.e. Basically every other indicator will tell you to get in after the reversal occurs. A divergence will get you in before it happens). The only caveat is sometimes it takes multiple drops before the reversal occurs. This means that divergences are great dollar cost averaging tools. AMEX:XLC looks to be in a potential reversal situation. I am seeing a bullish divergence along with the low/crossing stochastic. I think that it will push it up about 5% before we see a continued bearish divergence on top. I would consider this a short term opportunity. Again, I would suggest using dollar cost averaging when conducting a trade like this one. It is possible for the price to drop lower and the bullish divergence to continue.
AMEX:XLCLong
by UnknownUnicorn1542001