Learn to Evaluate (XLY) using the Charts

March 10, 2024, 06:32 am ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for XLY

• Buy XLY slightly over 179.41 target 189.03 stop loss @ 178.89 Details

The technical summary data tells us to buy XLY near 179.41 with an upside target of 189.03. This data also tells us to set a stop loss @ 178.89 to protect against excessive loss in case the stock begins to move against the trade. 179.41 is the first level of support below 180.31 , and by rule, any test of support is a buy signal. In this case, support 179.41 is being tested, a buy signal would exist.

• Short XLY slightly under 189.03, target 179.41, stop loss @ 189.58 Details

The technical summary data is suggesting a short of XLY as it gets near 189.03 with a downside target of 179.41. We should have a stop loss in place at 189.58though. 189.03 is the first level of resistance above 180.31, and by rule, any test of resistance is a short signal. In this case, if resistance 189.03 is being tested, a short signal would exist.

Swing Trading Plans for XLY

• Buy XLY slightly over 182.97, target 189.03, Stop Loss @ 182.44 Details

If 182.97 begins to break higher, the technical summary data tells us to buy XLY just slightly over 182.97, with an upside target of 189.03. The data also tells us to set a stop loss @ 182.44 in case the stock turns against the trade. 182.97 is the first level of resistance above 180.31, and by rule, any break above resistance is a buy signal. In this case, 182.97, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short XLY slightly near 182.97, target 179.68, Stop Loss @ 183.5. Details

The technical summary data is suggesting a short of XLY if it tests 182.97 with a downside target of 179.68. We should have a stop loss in place at 183.5 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 182.97, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for XLY

• Buy XLY slightly over 181.17, target 182.97, Stop Loss @ 180.75 Details

If 181.17 begins to break higher, the technical summary data tells us to buy XLY just slightly over 181.17, with an upside target of 182.97. The data also tells us to set a stop loss @ 180.75 in case the stock turns against the trade. 181.17 is the first level of resistance above 180.31, and by rule, any break above resistance is a buy signal. In this case, 181.17, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short XLY slightly near 181.17, target 179.68, Stop Loss @ 181.59. Details

The technical summary data is suggesting a short of XLY if it tests 181.17 with a downside target of 179.68. We should have a stop loss in place at 181.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 181.17, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Consumer Discretionary Select Sector Spdr (XLY) available here: XLY.

XLY Ratings for March 10:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	169.37
P2	178.88	179.68	179.41
P3	181.17	182.97	189.03

AI Generated Signals for XLY

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Consumer Discretionary Select Sector Spdr (NYSE: XLY) report below can help you understand how to do this. The trading plans for XLY, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.