US energy: the buy signal's confirmation holds
XLE slips 0.1% on the week, as the sequence of higher lows keeps the buy signal on track
US energy: the buy signal's confirmation holds
Our view last week
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.
This week's summary
XLE, the US energy sector ETF, extends its run of four higher lows on the daily chart, from the 54 area to the 58 area: the technical structure stays solid. The buy signal, which fired two weeks ago, cleared its confirmation week higher and climbs to 46th among the 120 open US buys, up from 54th last week. Our XLE technical analysis flags two weekly warnings though: contracting volumes and softening candle-body conviction.
IQS Phase
66
in tension
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#46 / 120
US stocks in progress
Trade P&L %
+3.24%
from signal to date, no stop loss
Rank position
ranks 46th among the 120 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 -0.12% · monthly +12.76%
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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