XLC, the Communication Services ETF: a red week
XLC climbs 1.8%, yet the confirmation week still closes lower
XLC, the Communication Services ETF: a red week
Our view last week
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.
This week's summary
XLC, the US Communication Services sector ETF, rebounds 1.8% after last week's slide, yet the second week of the buy signal still closes lower: sellers stay in control, with mixed rejection candles and a distribution phase still active. Price is boxed between resistance in the 109 area and support in the 107.75 area, waiting for clearer direction.
IQS Phase
45
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#101 / 120
US stocks in progress
Trade P&L %
-2.18%
from signal to date, no stop loss
Rank position
ranks 101st among the 120 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLC
Sector regimein positive regime
Performanceweekly +1.83% · monthly -1.37%
XLC belongs to the etf settoriale sector (reference ETF XLC). The sector is classified in positive regime according to our weekly reading.
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