Learn to Evaluate (XLP) using the Charts
February 17, 2024, 23:58 pm ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for XLP
- Buy XLP slightly over 70.77 target 73.53 stop loss @ 70.57 Details
The technical summary data tells us to buy XLP near 70.77 with an upside target of 73.53. This data also tells us to set a stop loss @ 70.57 to protect against excessive loss in case the stock begins to move against the trade. 70.77 is the first level of support below 73.28 , and by rule, any test of support is a buy signal. In this case, support 70.77 is being tested, a buy signal would exist.
- Short XLP slightly under 73.53, target 70.77, stop loss @ 73.74 Details
The technical summary data is suggesting a short of XLP as it gets near 73.53 with a downside target of 70.77. We should have a stop loss in place at 73.74though. 73.53 is the first level of resistance above 73.28, and by rule, any test of resistance is a short signal. In this case, if resistance 73.53 is being tested, a short signal would exist.
Swing Trading Plans for XLP
- Buy XLP slightly over 73.53, target n/a, Stop Loss @ 73.32 Details
If 73.53 begins to break higher, the technical summary data tells us to buy XLP just slightly over 73.53, with an upside target of n/a. The data also tells us to set a stop loss @ 73.32 in case the stock turns against the trade. 73.53 is the first level of resistance above 73.28, and by rule, any break above resistance is a buy signal. In this case, 73.53, 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 XLP slightly near 73.53, target 72.43, Stop Loss @ 73.74. Details
The technical summary data is suggesting a short of XLP if it tests 73.53 with a downside target of 72.43. We should have a stop loss in place at 73.74 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, 73.53, 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 XLP
- Buy XLP slightly over 73.53, target n/a, Stop Loss @ 73.36 Details
If 73.53 begins to break higher, the technical summary data tells us to buy XLP just slightly over 73.53, with an upside target of n/a. The data also tells us to set a stop loss @ 73.36 in case the stock turns against the trade. 73.53 is the first level of resistance above 73.28, and by rule, any break above resistance is a buy signal. In this case, 73.53, 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 XLP slightly near 73.53, target 73.1, Stop Loss @ 73.7. Details
The technical summary data is suggesting a short of XLP if it tests 73.53 with a downside target of 73.1. We should have a stop loss in place at 73.7 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, 73.53, 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 Staples Select Sector Spdr (XLP) available here: XLP.
XLP Ratings for February 17:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Neutral |
| P1 |
0 |
0 |
67.8 |
| P2 |
72.46 |
72.43 |
70.77 |
| P3 |
73.1 |
73.36 |
73.53 |
AI Generated Signals for XLP
Blue = Current Price
Red= Resistance
Green = Support
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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 Staples Select Sector Spdr (NYSE: XLP) report below can help you understand how to do this. The trading plans for XLP, 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.
Fundamental Charts for XLP:
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