XLK- Rising Trend Channel [MID TERM]

- XLK shows strong development within a rising trend channel in the medium long term.
- The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- XLK is testing resistance at 151.
- This could give a negative reaction, but an upward breakthrough of 151 means a positive signal.
- Volume tops and volume bottoms correspond badly with tops and bottoms in the price.
- This weakens the rising trend and could be an early signal of a coming trend break.
- RSI diverges negatively against the price, which indicates danger of a reaction downwards.
- Overall assessed as technically neutral for the medium long term.

*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price

*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN

Verify it first and believe later.

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