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XLK trade ideas

XLK- Rising Trend Channel [MID TERM]- XLK shows strong development within a rising trend channel in the medium long term. - The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. - XLK is testing resistance at 151. - This could give a negative reaction, but an upward breakthrough of 151 means a positive signal. - Volume tops and volume bottoms correspond badly with tops and bottoms in the price. - This weakens the rising trend and could be an early signal of a coming trend break. - RSI diverges negatively against the price, which indicates danger of a reaction downwards. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️
AMEX:XLKLong
by wavepoint99
XLK Update (daily chart)XLK is at a key area of resistance at Gann 145.11. It either breaks through this resistance next week to seek the Gartley 1.618 extension near the Gann line (151.77), or it repels downward to form a short term double top. I note that SOX index appears to be at a level of resistance, although it's ETF counterpart SMH appears in the clear above the Ichimoku cloud. I would watch the RSI (9) trend, which took a turn downward on Friday, although I'm discounting that observation a little since Friday was a weird day with options expiration. XLK is worth watching, since it is one of the few S&P sectors that is currently showing strength.
AMEX:XLK
by UnknownUnicorn13101
ROTATION FROM 'GROWTH' TO 'DEFENSIVE' OVER LAST 10 DAYSCHART DISPLAYS LAST 30 DAYS Utilities ($XLU) outperforming the broader market as represented by ($SPY) and growth oriented, tech based, sub-sector ($XLK) over the last 30 days. This has a correlation with an increased 'potential' for instances of heightened, near term (2 to 4 weeks) market volatility. During the recent selloff we can see that the 'bids' did not push the broader market as represented by ($SPY) or the S&P 500 tech sector ($XLK) back over its pre-selloff top. On the other hand, the market did buy the utilities (XLU) back up over its respective, pre-selloff top. (see yellow horizontal lines) So utilities stay bid while tech and the broader market begin to falter. In my opinion this is what a rotation out of 'growth' ($XLK) from the last 6 weeks and into 'defensives'($XLU) looks like from a price structure perspective. I would interpret this as an expression of 'risk off' market sentiment going into 2023. (NOT FINANCIAL ADVICE)
AMEX:XLK
by Firewalker_Charts