XLE confirms the bounce off its double bottom near 53
XLE climbs 3.4%, confirming the bounce off its double bottom near 53
XLE confirms the bounce off its double bottom near 53
Our view last week
XLE, the US energy sector ETF, bounces 4.7% off a double bottom in the 53 area: after weeks in which the sell signal faded out without ever confirming, the picture flips and a fresh buy signal fires. Our XLE technical analysis places it 18th among the 20 new US Longs, with a signal strength of 50 out of 100 and the weekly ADX turning down: real strength, still to be confirmed.
This week's summary
XLE, the US energy sector ETF, confirms its 3.4% bounce off the double bottom in the 53 area: the buy signal that fired last week holds, with the weekly structure still orderly above the Ichimoku cloud. Our XLE technical analysis places it 54th among the 124 open US buys, with a signal strength of 55 out of 100 and the ADX turning down: the push is there, but it isn't accelerating.
IQS Phase
57
ordinary
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#54 / 124
US stocks in progress
Trade P&L %
+3.36%
from signal to today
Rank position
ranks 54th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly +3.36% · monthly +11.29%
XLE belongs to the etf settoriale sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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