XIT (iShares S&P/TSX Capped Information Tech Index ETF) is currently consolidating, with potential for a 10% upside if the price reaches the range of 52 to 53. The target zone for this possible move is approximately 57 to 58, with a potential pullback expected at that level.
Entry on XIT, in buy pullback mode with any of the upward trajectory ETF's index's.
Less than two months ago, I suggested it was okay to buy TECH ETF's (they'd reached an earlier target I'd published). One I highlighted, the XIT (Canadian) has climbed dramatically and now that it's largest holding, Shopify has a market cap bigger than the Royal Bank of Canada, I figure enough is enough. After all it would take a very long time indeed to earn...
I suggested in an earlier post that I'd buy tech ETF's if they dropped to my target of $25. In this case, it got there and is rebounding nicely. Suggest it is okay to own.
Tech stocks beating may meet resistance soon. This ETF may be bought at $25 based on my interpretation of chart.