Trading (XLK) With Integrated Risk Controls

January 05, 2024, 18:44 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for XLK

• Buy XLK slightly over 178.38 target 188.2 stop loss @ 177.86 Details

The technical summary data tells us to buy XLK near 178.38 with an upside target of 188.2. This data also tells us to set a stop loss @ 177.86 to protect against excessive loss in case the stock begins to move against the trade. 178.38 is the first level of support below 184.38 , and by rule, any test of support is a buy signal. In this case, support 178.38 would be being tested, so a buy signal would exist.

• Short XLK slightly under 188.2, target 178.38, stop loss @ 188.74 Details

The technical summary data is suggesting a short of XLK as it gets near 188.2 with a downside target of 178.38. We should have a stop loss in place at 188.74though. 188.2 is the first level of resistance above 184.38, and by rule, any test of resistance is a short signal. In this case, if resistance 188.2 is being tested, so a short signal would exist.

Swing Trading Plans for XLK

• Buy XLK slightly over 185.07, target 188.2, Stop Loss @ 184.54 Details

If 185.07 begins to break higher, the technical summary data tells us to buy XLK just slightly over 185.07, with an upside target of 188.2. The data also tells us to set a stop loss @ 184.54 in case the stock turns against the trade. 185.07 is the first level of resistance above 184.38, and by rule, any break above resistance is a buy signal. In this case, 185.07, 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 XLK slightly near 185.07, target 178.38, Stop Loss @ 185.6. Details

The technical summary data is suggesting a short of XLK if it tests 185.07 with a downside target of 178.38. We should have a stop loss in place at 185.6 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, 185.07, 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 XLK

• Buy XLK slightly over 184.42, target 185.07, Stop Loss @ 183.99 Details

If 184.42 begins to break higher, the technical summary data tells us to buy XLK just slightly over 184.42, with an upside target of 185.07. The data also tells us to set a stop loss @ 183.99 in case the stock turns against the trade. 184.42 is the first level of resistance above 184.38, and by rule, any break above resistance is a buy signal. In this case, 184.42, 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 184.42, target 181.89, Stop Loss @ 184.85. Details

The technical summary data is suggesting a short of XLK if it tests 184.42 with a downside target of 181.89. We should have a stop loss in place at 184.85 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, 184.42, 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 January 05:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	178.38
P2	181.89	185.07	188.2
P3	184.42	189.86	197.74

AI Generated Signals for XLK

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