The buy signal breaks below stop
XLC slides 3.9% as the buy signal breaks its first stop
The buy signal breaks below stop
Our view last week
XLC technical analysis: the US Communication Services sector ETF closed the week down 0.9%, with only 28% of the last session's volume on the buy side and a marked distribution phase. Yet this is exactly the week a new buy signal fires: a low-conviction case, 19th of the 20 fresh US Longs, with a signal strength of 45 out of 100. Entry quality is excellent, but this one calls for reduced size.
This week's summary
XLC, the US Communication Services sector ETF, prints a double bottom in the 105 area with a 9% intermediate rebound, yet the week still closes down 3.9%. Our XLC technical analysis shows the buy signal that fired a week ago failed its first test: price closed below the first stop level (SL1) flagged in last week's card (106.89 area), and for anyone following that level the trade is closed.
IQS Phase
45
ordinary
Signal Strength
38
medium · weak
Sizing
REDUCED
Ranking
#93 / 124
US stocks in progress
Trade P&L %
-3.93%
from signal to date, no stop loss
Rank position
ranks 93rd among the 124 Longs already running for US stocks in our ranking, with a signal strength of 38 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLC
Sector regimeweak phase
Performanceweekly -3.93% · monthly -0.23%
XLC belongs to the etf settoriale sector (reference ETF XLC). The sector is classified weak phase according to our weekly reading.
restricted Platinum content