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shivam94_007

Utility stocks are due for a short term bounce

Long
SPDR Select Sector Fund - Utilities (AMEX:XLU)  
shivam94_007 Updated   
AMEX:XLU   SPDR Select Sector Fund - Utilities
Support and Resistance Supply and Demand Trend Lines utilities XLU
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supportandresistance supplyanddemand trendline utilities xlu
A beautiful, self explainatory chart. I have started a long position based on this weekly trendline (orange) being hit with high velocity, expecting a decent bounce.
Disclaimer : Educational idea only. Not a financial advice. Consult your CFA for financial advice.
Trade closed: target reached:
There is your 5% bounce. Enjoy the profit.
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