Investor Alert

March 31, 2021, 8:51 a.m. EDT

Reading the Charts in Health Care Select Sector Spdr $XLV to Generate Trading Plans

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Mar 31, 2021 (Stock Traders Daily via COMTEX) -- When we read the charts for Health Care Select Sector Spdr /zigman2/quotes/205918244/composite XLV +0.50% we are able to reach conclusion that are not otherwise discernable. We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented. These are what create trading plans. The example here is for XLV and it demonstrates this practice. This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

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 113.23 with an upside target of 117.70. This data also tells us to set a stop loss @ 112.9 to protect against excessive loss in case the stock begins to move against the trade. 113.23 is the first level of support below 116.51 , and by rule, any test of support is a buy signal. In this case, support 113.23 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of XLV as it gets near 117.70 with a downside target of 113.23. We should have a stop loss in place at 118.04though. 117.70 is the first level of resistance above 116.51, and by rule, any test of resistance is a short signal. In this case, if resistance 117.70 is being tested, so a short signal would exist.


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US : U.S.: NYSE Arca
$ 123.45
+0.62 +0.50%
Volume: 6.59M
May 14, 2021 4:00p

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