XLK - possible opportunity but don't plant all your seed at once
Time to start accumulating some XLK? I think so. With the 200-day on the yearly chart being breached, I believe this a good entry point. Buyer be aware, painful times may be ahead. Going with weekly purchases on this one for dollar cost averaging. Quick spike up my result in a quick sell on my end but I’ll also welcome ongoing movement down.
From a technical standpoint, the last time XLK breached the 200-day was August 5th. It quickly recovered. From a guessing standpoint, I don’t see this happening again. I’m thinking a sideways movement from here until November (excellent candidate for the wheel) or more downward pressure. Beyond this current area, next major support is the 190ish range.
I added Volume Profile to the chart. Still learning this one but wanted to leave it on. Comments are welcomed as to what you see, especially with Volume Profile.
I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained in this post is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation
From a technical standpoint, the last time XLK breached the 200-day was August 5th. It quickly recovered. From a guessing standpoint, I don’t see this happening again. I’m thinking a sideways movement from here until November (excellent candidate for the wheel) or more downward pressure. Beyond this current area, next major support is the 190ish range.
I added Volume Profile to the chart. Still learning this one but wanted to leave it on. Comments are welcomed as to what you see, especially with Volume Profile.
I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained in this post is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.