Description
⋅ Seems like there is a sector rotation happening on Friday.
S&P and Dow30 rallied 1-2%, while Nasdaq lag behind by 0.65%.
The sectors that rallied on Friday were the Material, Industrial, and Consumer Cyclical.
It may be a good time to bottom-pick some of the bruised and battered cyclical.
This is a pure technical play on an oversold company.
The support level is around 131. A rebound back to the previous swing level, around 150, is possible.
CFD trade is possible on this.