XSW ETF Long-Term Trading Opportunity 1
expect XSW to increase in value to around $170+- Dollar in 6-24 month+-
I have set up an order to buy at $139 per ETF unit for a total of 70 units.
I have no fixed take profit as of now, but a trailing stop loss will be implemented
Stop Loss is around $120+- (will be adjusted accordingly, this is just a rough stop loss, this is more a buy and hold position, so increased buying could occur at these levels).
So why?
20% growth for this number 1 Tech ETF in 2 years from right before covid market crash occurred, in a time when tech boomed, but only 20%, the market as a whole did better than that...
I do not think the price is fair now, I think it should be higher, tech is booming, and if you consider things like the semiconductor shortages starting to get better etc. then I think Tech is a buy...
Also, people going back to work won't make things return to exactly the way it was before, tech will still stay now more in demand than before Covid, although the demand might drop a bit now...
Technical analysis points out we are in an area of a potential reversal, but it can get worse, and we can see $120, but I would still hold even then, and keep on buying. Tech has fallen harder than the market as a whole, more than 20%, so it was hit harder...
this is my 30% reserve I am betting here, so my trailing stop loss will be strict, but if this is not your 30% cash reserve then by all means hold, even if it drops to $120, keep on buying, tech can only grow in demand in the near future...
I have set up an order to buy at $139 per ETF unit for a total of 70 units.
I have no fixed take profit as of now, but a trailing stop loss will be implemented
Stop Loss is around $120+- (will be adjusted accordingly, this is just a rough stop loss, this is more a buy and hold position, so increased buying could occur at these levels).
So why?
20% growth for this number 1 Tech ETF in 2 years from right before covid market crash occurred, in a time when tech boomed, but only 20%, the market as a whole did better than that...
I do not think the price is fair now, I think it should be higher, tech is booming, and if you consider things like the semiconductor shortages starting to get better etc. then I think Tech is a buy...
Also, people going back to work won't make things return to exactly the way it was before, tech will still stay now more in demand than before Covid, although the demand might drop a bit now...
Technical analysis points out we are in an area of a potential reversal, but it can get worse, and we can see $120, but I would still hold even then, and keep on buying. Tech has fallen harder than the market as a whole, more than 20%, so it was hit harder...
this is my 30% reserve I am betting here, so my trailing stop loss will be strict, but if this is not your 30% cash reserve then by all means hold, even if it drops to $120, keep on buying, tech can only grow in demand in the near future...
Trade closed: stop reached:
exited at 147.00, I have my fears that the market, the SP&500 specifically will go lower than 4200
Trade active:
re-entered twice, stop loss hit twice above opening price...
made a total of $1300+- so far, I can't get a nice entry, going to wait for the market to dump further, all in cash now, going to wait for 128.00 at least before I buy again.
made a total of $1300+- so far, I can't get a nice entry, going to wait for the market to dump further, all in cash now, going to wait for 128.00 at least before I buy again.