When the Price of (XLY) Talks, People Listen

April 09, 2024, 09:18 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for XLY

• Buy XLY slightly over 171.42 target 181.07 stop loss @ 170.92 Details

The technical summary data tells us to buy XLY near 171.42 with an upside target of 181.07. This data also tells us to set a stop loss @ 170.92 to protect against excessive loss in case the stock begins to move against the trade. 171.42 is the first level of support below 180.57 , and by rule, any test of support is a buy signal. In this case, support 171.42 would be being tested, so a buy signal would exist.

• Short XLY slightly under 181.07, target 171.42, stop loss @ 181.59 Details

The technical summary data is suggesting a short of XLY as it gets near 181.07 with a downside target of 171.42. We should have a stop loss in place at 181.59though. 181.07 is the first level of resistance above 180.57, and by rule, any test of resistance is a short signal. In this case, if resistance 181.07 is being tested, so a short signal would exist.

Swing Trading Plans for XLY

• Buy XLY slightly over 181.07, target 190.34, Stop Loss @ 180.55 Details

If 181.07 begins to break higher, the technical summary data tells us to buy XLY just slightly over 181.07, with an upside target of 190.34. The data also tells us to set a stop loss @ 180.55 in case the stock turns against the trade. 181.07 is the first level of resistance above 180.57, and by rule, any break above resistance is a buy signal. In this case, 181.07, 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 181.07, target 178, Stop Loss @ 181.59. Details

The technical summary data is suggesting a short of XLY if it tests 181.07 with a downside target of 178. 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, 181.07, 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 181.23, target 190.34, Stop Loss @ 180.81 Details

If 181.23 begins to break higher, the technical summary data tells us to buy XLY just slightly over 181.23, with an upside target of 190.34. The data also tells us to set a stop loss @ 180.81 in case the stock turns against the trade. 181.23 is the first level of resistance above 180.57, and by rule, any break above resistance is a buy signal. In this case, 181.23, 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 181.23, target 179.29, Stop Loss @ 181.65. Details

The technical summary data is suggesting a short of XLY if it tests 181.23 with a downside target of 179.29. We should have a stop loss in place at 181.65 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, 181.23, 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 April 09:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	171.42
P2	179.29	178	181.07
P3	181.23	180.97	190.34

AI Generated Signals for XLY

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Consumer Discretionary Select Sector Spdr (NYSE: XLY) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for XLY can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.