XLK Crossing 168.20 Approaching resistance for a breakout.XLK Crossing 168.20
Approaching resistance for a breakout.
XLK trade ideas
Technology breakoutA nice breakout towards fibo 3.0, the subbort is very close. If gowing lower the current support, fibo 2.414 next support
Elliott Wave View: Technology ETF (XLK) Looking to Break to New Short Term view in XLK suggests the rally from October 5 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from October 5, wave ((i)) ended at 153.71 and pullback in wave ((ii)) ended at 149.60. Internal of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 150.53 and wave (b) pullback ended at 153.15. Stock then resumes lower in wave (c) which ended at 149.60. This completed wave ((ii)).
The stock has rallied higher in wave ((iii)). Internal of wave ((iii)) is unfolding as a 5 waves impulsive structure. Up from wave ((ii)), wave (i) ended at 151.61 and pullback in wave (ii) ended at 150.00. Stock has resumed higher in wave (iii) towards 156.71, wave (iv) ended at 154.61, and wave (v) of ((iii)) ended at 159.18. The pullback in wave ((iv)) has begun to correct cycle from October 12. Wave (a) ended at 157.51. Expect the ETF to bounce higher in wave (b), then we are looking down for wave (c) to complete wave ((iv)) before the rally resumes in wave ((v)). Near term, as far as wave ((ii)) pivot low at 149.60 stays intact, expect wave ((iv)) pullback to find support in 156.91 – 155.97 area for further upside.
watch the trend line , if it breaks down, not goodSee day chart for this ETF
will it breaks down ? your guess is as good as mine
SPDR Technology (XLK) Fund - Touching top of Trading ChannelChannels that I see with the SPDR select technology fund. It was pretty well contained in this channel since 2008, but as you can see the COVID rally has pushed it way above. Right now it is in a larger parallel channel that has its mid line (red dotted) just above the major peaks since 2015. Will this channel hold Tech? HArd to tell, but so far it has been strong enough to buck an 11 year trend.
1D
4h
XLK To $144Daily chart created negative divergence with PPO. Typically that indicates weakness in the trend. Interestingly this happens to be at the upper boundary of the channel that has developed back in 2020.
Unless price bounces back this afternoon or tomorrow morning, it’s reasonable to expect some sort of the pull back. Most logical level would be just below $144 where price made previous higher high. This retest if prior highe would completely make sense from technical perspective.
AAPL update: since AAPL is big part of XLK it would mean we can see a bit of a pullback in stock as well. I previously posted price target of $130 to be reached. Not as confident in $130 at the moment, although it could definitely be reached, but $134 would be very doable.
XLK Terminal push on the upside XLK is shaping up for a terminal wave 5 increase that could reach 157 with a clear 3 wave decline into wave iv support level
I am short XLK 151.86Daily heading up into R1 152.53
Look daily vol more selling buying
Weekly starting roll over some I am early small shares Short
XLKTagged the 2.618 extension from the tech bubble crash. Covid crash happened right at the 1.618 retracement.
Technology overextended since July 2020 & may go until November This is about a simple as it get from a TA perspective. Tech broke the 2009 channel back and July 2020 and has not looked back since. Given its current strength and trajectory it could keep running all the way to November before we see another pullback. The air is really thin up here, but investors don't seem to care.
Rotation Out Of Energy Sector Into Technology StocksThis triangle consolidation looks to be breaking out soon. Next month we may see $XLK outperform $XLE
Trade Plan XLK 10-06-21Trade Plan XLK
Created 10-06-21
Strategy = Mean Reversal Strategy KC
Screener = CNN Business
To wait candle retrace
EP = 139.5 ; CL = 136
Risk = 3.5
TP = 142.5; TP2=146
Option Pricing
Strike Price = < >
Premium= < >; Delta = < >
Option Risk= Risk*Delta*100
Expiry Date = (>30D) DD/MM/YY
Time Stop = (1/3x D) DD/MM/YY
XLK vs SPYTech vs Spy.. Not a good look for tech yet. While we remain under that marked line, its hard to be bullish tech overall for me. Will continue to watch.
XLK Bullish Trade Setup XLK hourly chart showing a potential wave (C) pullback into testing the 50% retracement at 134 before we make the terminal move higher.
XLK (Elliott correction wave)Alot of you have been wondering how on earth I make my trades with minimalistic features on my graph. In short I only use a modified version of Elliott wave theory. I only trades Elliott correction waves. The chart of XLK is forming what looks to be a regular flat. Wait for the break of the low and a potential lower degree correction (LDC) before buying calls. Thats the strategy I use. Good day!
If you like what you see why not support us?
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XLK wave (3) Bullish XLK hourly chart showing a potential wave (3) increase into the 147 upside before a medium term corrective pullback into wave (4) sets in. One more push higher into the 147-148 and the immediate rally should take us into complete motive impulse.
Strong hourly MACD negative divergence Showing bear divergence with stochastic at top of range losing momentum while not having seen bottom since late March.
$XLK Technology Sector ETF Bull Trend Returns!$XLK #Technology Sector ETF
#Tech officially back in bull market? 🚀
Price has closed above 2nd SuperTrend resistance, a strong indication of possible start of next bull trend with no overhead resistance (Intermediate term).
Lets observe #VCCB indicator for strength of buying volume and trend continuation over the next few days.
Relative Strength (RS) line rising. Take note this is totally different from RSI (Relative Strength Index). We use RS to measure if an asset is outperforming a benchmark. The SPY is used as benchmark for this chart example. An RS line that turns green and sloping upwards generally indicates the asset has stronger strength (outperforming the benchmark).
Also take note in strong upward trending markets, Oscillators can remain overbrought for prolong periods.
It will be good time to find swing trade opportunities in many Technology stocks.
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