Tech sector ETF: confirmation week closes red
FTEC drops 3.4% in the confirmation week as MACD turns bearish
Our view last week
FTEC, the US technology sector ETF, closes the week up 0.9% and stays close to its recent highs, with only 2.8% of room before the next historical resistance. This is the week a fresh buy signal opens, right after last week's sell signal closed out. Weekly ADX is slowing, though: the trend is losing conviction, and per our technical analysis the model flags this as a high-risk opening for now.
This week's summary
FTEC's MACD turns bearish right as the buy signal that fired a week ago faces its confirmation test: the week closes down 3.4%, with buyers visibly losing steam. The price still sits close to its all-time highs, above the 50-week moving average. This weekly technical analysis of FTEC, the US technology sector ETF, shows a structure that stays constructive but without last week's push.
IQS Phase
51
ordinary
Signal Strength
29
low · fading
Sizing
MINIMUM
Ranking
#152 / 167
US stocks in progress
Trade P&L %
-3.38%
from signal to date, no stop loss
Rank position
ranks 152nd among the 167 Longs already running for US stocks in our ranking, with a signal strength of 29 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
FTEC belongs to the etf settoriale sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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