The communications sector is seeing incredible strength with NFLX making strong moves on the day. We see this and the broader tech, Nasdaq areas of the market moving higher as well. Good luck traders
Fun Fact in 2018 tech became to large of a percentage of the S&P500 and the committee decide to change the Telecomm sector name to communication services. Alphabet and Facebook now Meta moved from technology along with some key names from the consumer discretionary sector like Disney, Comcast, and Netflix. Fast forward to today we are slowly approaching all time...
This comms sector ETF seems to be showing promise here for at least a short term move off the 80 handle. If Google finds a near term bottom and NFLX gets a bid off 600 we could see XLC probe higher. Good luck traders
Looking at the comms sector to potentially make a move back above 80 here, we have seen recent underperformance but our assumption here is that we may look back above this level in the near future. Despite GOOGL underperformance, NFLX seems to have no end to it's rally in sight.
Gaps are for buying and selling right? Well, this gap is right into a 52 week resistance level, with all 6 timeframes decently overbought. Looking short here with first target at 75. This thing moves slowly so i'll revaluate whenever we get there. A move to 77 would not be ideal, allowing for a potential break and bounce of this POC level, giving some potential to...
Communications could be on the verge of a strong breakout as price has broken, and stayed above, the $69.50 area.
Many of the top stocks in the sector are running on the back of strong earnings, like Meta, Netflix, and Disney:
META:
NFLX:
DIS:
Buying shares now and risking to $67 could be a great long-term move, while trailing the position on short term...
before a sustainable move into the green 50% rule box. Then proceed to the targets. Ideal scenario, if it traps both the FOMO players AND the bears. #TheStrat
The Communications Sector has been doing well in this choppy market. This Weekly Chart shows AMEX:XLC forming a flat base. And compared to other sectors it is showing good Relative Strength.
I have set an alert on the resistance line. If the market starts firming up and this triggers, I will use a lower timeframe to determine a good entry and stop loss.
Ideas,...
In the last 6 months AMEX:XLC is the leading sector in the $SPX.
And with the recent sell of in the energy sector AMEX:XLE , communications is the only sector without lower lows.
There are various stocks that confirm this strength in AMEX:XLC , some are NASDAQ:MATH , NASDAQ:ATVI , NASDAQ:META , NASDAQ:CHTR and many others.
Let's wait and see.
XLC might have a bit more to go to the downside while stocks in the communications sector like GOOGL, NFLX, DIS and META are all acting hesitant imo. We'll see if we continue to get a dip through 65.
XLC has and is still one of the strongest sectors.
this is still one of the most skewed ETF's with META's absurd weighting but nonetheless this pattern is still consolidating on the weekly chart.
There is a lower weekly high we have to monitor right at the top of the resistance channel but with if earnings guidance and revisions are met expect the likes of...
XLC is likely to rebound if price approaches toward 65.5 mark. As long as stock's price holds above 64.5 rising trend may continue toward a range between 72 and 72.9
Bearish signal=64.5
Key level=65.5
Target=72/72.9
XLC Overview - Communication Services: Companies engaged in the transmission of information, communication, and entertainment, including telecommunications, media, and entertainment companies.
Economic Cycle Sensitivity: Communication services companies are relatively stable and less sensitive to economic cycles. However, their performance can be influenced...
Sector: Communication Services (XLC)
Introduction:
Hello everyone! Today, we're analyzing the weekly chart of the Communication Services Sector (XLC). After a clear downward trend, we observe a potentially bullish reversal marked by a variation of an inverted head and shoulders pattern.
Inverted Head and Shoulders Pattern:
Typically, an inverted head and...
