How the (XLK) price action is used to our Advantage
March 20, 2024, 09:10 am ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for XLK
- Buy XLK slightly over 202.59 target 213.07 stop loss @ 202 Details
The technical summary data tells us to buy XLK near 202.59 with an upside target of 213.07. This data also tells us to set a stop loss @ 202 to protect against excessive loss in case the stock begins to move against the trade. 202.59 is the first level of support below 207.32 , and by rule, any test of support is a buy signal. In this case, support 202.59 is being tested, a buy signal would exist.
- Short XLK slightly under 213.07, target 202.59, stop loss @ 213.69 Details
The technical summary data is suggesting a short of XLK as it gets near 213.07 with a downside target of 202.59. We should have a stop loss in place at 213.69though. 213.07 is the first level of resistance above 207.32, and by rule, any test of resistance is a short signal. In this case, if resistance 213.07 is being tested, a short signal would exist.
Swing Trading Plans for XLK
- Buy XLK slightly over 208.93, target 213.07, Stop Loss @ 208.33 Details
If 208.93 begins to break higher, the technical summary data tells us to buy XLK just slightly over 208.93, with an upside target of 213.07. The data also tells us to set a stop loss @ 208.33 in case the stock turns against the trade. 208.93 is the first level of resistance above 207.32, and by rule, any break above resistance is a buy signal. In this case, 208.93, 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 XLK slightly near 208.93, target 204.62, Stop Loss @ 209.53. Details
The technical summary data is suggesting a short of XLK if it tests 208.93 with a downside target of 204.62. We should have a stop loss in place at 209.53 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, 208.93, 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 XLK
- Buy XLK slightly over 208.93, target 213.07, Stop Loss @ 208.44 Details
If 208.93 begins to break higher, the technical summary data tells us to buy XLK just slightly over 208.93, with an upside target of 213.07. The data also tells us to set a stop loss @ 208.44 in case the stock turns against the trade. 208.93 is the first level of resistance above 207.32, and by rule, any break above resistance is a buy signal. In this case, 208.93, 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 XLK slightly near 208.93, target 207.1, Stop Loss @ 209.42. Details
The technical summary data is suggesting a short of XLK if it tests 208.93 with a downside target of 207.1. We should have a stop loss in place at 209.42 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, 208.93, 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 Technology Select Sector Spdr Etf (XLK) available here: XLK.
XLK Ratings for March 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Strong |
| P1 |
0 |
0 |
191.98 |
| P2 |
204.55 |
204.62 |
202.59 |
| P3 |
207.1 |
208.93 |
213.07 |
AI Generated Signals for XLK
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Technology Select Sector Spdr Etf (NYSE: XLK) data table below can help you with price action, and we have more details too. Trading plans for XLK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for XLK:
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