US technology ETF · Open buy signal
FTEC slips 0.3%: a new all-time high that the weekly close fails to confirm
Our view last week
FTEC, the Fidelity US technology sector ETF, printed a new all-time high and closed above the old one, up 1.7% on the week. The 292 area resistance cleared 7 days ago is now well behind, and the weekly MACD is back above its Signal line after 6 weeks. FTEC technical analysis shows clean price action on this basket of tech stocks, one of our weekly buy signals still open; the weak spot is a signal strength that stays low and flat, with the weekly RSI up at 70.
This week's summary
A new all-time high during the week, but no confirmation on the close: FTEC, the Fidelity US technology sector ETF, slips 0.3% and finishes in the lower part of its weekly range, after 3 straight weeks of gains. A week ago the record had been cleared on the close as well. FTEC technical analysis stays constructive: 4 higher lows on the daily chart and the weekly MACD above its Signal line. The trade on this basket of tech stocks is up 4.4% since entry, with signal strength still low and flat.
IQS Phase
64
ordinary
Signal Strength
12
low · fading
Sizing
MINIMUM
Ranking
#91 / 92
US stocks in progress
Trade P&L %
+4.40%
from signal to date, no stop loss
FTEC Technology US weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 91st among the 92 Longs already running for US stocks in our ranking, with a signal strength of 12 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
FTEC belongs to the etf settoriale sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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