Mar 22, 2021 (Stock Traders Daily via COMTEX) -- This price action in Health Care Select Sector Spdr /zigman2/quotes/205918244/composite XLV +0.73% can help investors find opportunity, and manage risk. Stock Traders Daily has demonstrated that in this article. Review The plans for XLV below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
The Technical Summary and Trading Plans for XLV help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this XLV Report.
The technical summary data tells us to buy XLV near 113.06 with an upside target of 117.83. This data also tells us to set a stop loss @ 112.73 to protect against excessive loss in case the stock begins to move against the trade. 113.06 is the first level of support below 115.07 , and by rule, any test of support is a buy signal. In this case, support 113.06 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of XLV as it gets near 117.83 with a downside target of 113.06. We should have a stop loss in place at 118.17though. 117.83 is the first level of resistance above 115.07, and by rule, any test of resistance is a short signal. In this case, if resistance 117.83 is being tested, so a short signal would exist.
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