XLU Utilities fund: Waiting for a structural breakdown

XLU             is a massive, highly liquid fund that only invests in utility companies that are included in the S&P 500             . It is one among the cheapest and most liquid options. I am expecting a structural break down. Will only enter if the relative upward strength or the volume of the pair runs out. I have identified the same structure on RSI below. Have a look.
Nice idea patterntrader, seems probable. Previous support and resistance show up a lot at the $49- 49.74 area, once the pull back happens around there I think this will turn out to be a fine trade. Right now thou I believe this fund has potential to the upside- $52.80 if it doesn't get stop at the 49 area. This fund has drop 10% since the macd went negative and now has a chance to do the same to the upside with dec 29 close above 20 ma pullback red candle close and macd being positive.
+1 Reply
patterntrader andhughwho
@andhughwho, Good suggestion! In my case, I won´t enter until the pair gets out of the correction area. Oftentimes, 200 SMA remain as a strong cap. Let us follow how it will turn out!
Thank you for your comment!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out