US technology ETF · open buy, week 7
XLK gains 1.8% to a fresh all-time high as the weekly MACD turns up
Our view last week
XLK, the US technology sector ETF, gains 3.5% and settles the breakout left pending a week ago: the ceiling in the 190 area is behind it, and price stops just shy of its all-time high. It's the 5th straight weekly rise, with buyers in charge and money flow positive. Yet XLK technical analysis shows ADX falling for 12 weeks: the trend keeps climbing with less and less conviction. Strong price action for swing trading, with little room left to run.
This week's summary
XLK, the US technology sector ETF, gains 1.8% and prints a fresh all-time high, confirmed by the weekly close: a week ago it had stopped just short. It's the 6th straight weekly rise, and XLK technical analysis shows two turns: the weekly MACD is back above its Signal line after 10 weeks and ADX ends a 12-week slide. Price action stays firm for swing trading, yet signal strength is low and room to run is thin. Among weekly buy signals on tech stocks, this is one to manage.
IQS Phase
70
in tension
Signal Strength
20
low · fading
Sizing
MINIMUM
Ranking
#89 / 93
US stocks in progress
Trade P&L %
+5.16%
from signal to date, no stop loss
Technology US (XLK) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 89th among the 93 Longs already running for US stocks in our ranking, with a signal strength of 20 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
XLK 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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