I might be a little early here, but I like RIG and I'm BUYING. After a 78.6% retracement off the highs it looks promising. The RSI and %R are oversold and have acted as a good buy spot in the past. The company has positive net income so fundamentally pretty solid. Earnings are a way off so no near term shocks. The 15 min chart shows a double bottom, which usually...
While its not a done deal, I would be lightening up in the energy sector. I Bearish Bat formation could be forming. Typically they go to 0.886 retracement. We are not there yet, but getting close. Volume is dropping off some. RSI is making a lower high. Look to get back in around $59. I wouldnt try to short this but I wouldn't be going long either. Neutral.
Really? We are really counting on Utilities to lead the market by making a historic new high?
$XLU is no doubt one of the strongest sectors out there. The bullish setup from 41$ generated impressive rally in time where the markets suffered mostly losses. Now, as sentiment starting to shift, we may see continuation move towards final target zone of the bullish move - Completion of Bat pattern near 49$ Two zones to monitor in $XLU: 1. 45$ - Currently...
XLU is forming bearish BAT pattern. Watch that channel and D-point for possible downward action. Stops above X and no entry if it keep rising or news events disturb it. Targets eg. B-point and C-point or fib. ret. 38,2% and 61,8% of the CD-leg.
XLU - the SPDR utilities sector ETF is struggling to get back into macro uptrends, while showing no bias on short term. On long term perspective the price is trading around upper 1st standard deviation from 5-year mean, which is a 5-year uptrend border. The price is also technically in 10-year uptrend, trading above the upper 1st standard deviation from 10-year...
XLU broke below a 7-week triangle consolidation support (as shown on the weekly chart), completing a bearish continuation pattern. Further losses risk 43.49 (March 23, 2015 weekly low) then 43.01 (March 9, 2015 weekly low) next. Below there would expose 41.40 (September 22, 2014 higher low). The 45.46 high (April 20, 2015) should cap near term bounces. Only a...
XLU rallied off the 43.02/43.09 minor double bottom to reach 45.63 (March 19. 2015 high) before consolidating. As the indicators are mixed, XLU is expected to remain range-bound near term. Clearing the 45.63 range resistance is needed to turn bullish and confirm basing for a move towards 46.59 initially. Back below 44.02 (March 18, 2015 low) would signal a retest...
The charts above show the performance of each sector relative to all nine sectors combined. XLK tech couldn't be included due to having only 8 panes but it was included in determining the sector ratios. Important to keep in mind that these are ratios, all prices could go lower or higher together but what I'm interested in here is purely the relative performance....