XLRE: rejected at the highs, trade up 5.25%
XLRE slips 1.9% after rejection at the highs, uptrend still holds on higher lows
XLRE: rejected at the highs, trade up 5.25%
Our view last week
XLRE's rally continues: after last week's 2.2% gain, this week the price pushed to fresh 7-day and 30-day highs, in the 46.1 area, only to get firmly rejected. Buyers stay in control - 86% of the week's volume was on the buy side - and money flow is turning up sharply. This XLRE technical analysis shows the picture still bullish, with the trade now up 7.3% since entry.
This week's summary
XLRE, the US real estate sector ETF, pushed to fresh recent highs in the 46 area only to get firmly rejected: the week closes down 1.9%, with 83% of volume on the sell side. This XLRE technical analysis still shows the uptrend holding its shape - three higher lows across the latest daily bars - with the trade now up 5.25% since entry.
IQS Phase
53
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#60 / 120
US stocks in progress
Trade P&L %
+5.25%
from signal to date, no stop loss
Rank position
ranks 60th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLRE
Sector regimein positive regime
Performanceweekly -1.92% · monthly +2.01%
XLRE belongs to the etf settoriale sector (reference ETF XLRE). The sector is classified in positive regime according to our weekly reading.
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