Thread by @malteseinvest

Analysis: #NASDAQ $XLK

Case 245 #Technology_Select_Sector_SPDR Fund

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#XLK 1/4

Chart 1
Weekly Chart: XLK has risen 3 fold since 2015 peaking at a high of 102.94 then correcting violently lower, breaking below the 2019 #trendline, but staying fractionally above the #support zone comprising of the #Fib. 0.50, the 2015 trendline and .....

XLK 2/4

..... #SMA 200 where buyers were positioned. The long term objective is 131.00 but before that some work needs to be done and a close above 111.00 is required for this to happen.

XLK 3/4

Chart 2
Daily Chart: The #Strategy is printed on the image.

$XLK 4/4