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November 26, 2024, 19:04 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy XLRE near 43.42 with an upside target of 45.76. This data also tells us to set a stop loss @ 43.29 to protect against excessive loss in case the stock begins to move against the trade. 43.42 is the first level of support below 44.8 , and by rule, any test of support is a buy signal. In this case, support 43.42 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of XLRE as it gets near 45.76 with a downside target of 43.42. We should have a stop loss in place at 45.89though. 45.76 is the first level of resistance above 44.8, and by rule, any test of resistance is a short signal. In this case, if resistance 45.76 is being tested, a short signal would exist.
If 45.76 begins to break higher, the technical summary data tells us to buy XLRE just slightly over 45.76, with an upside target of n/a. The data also tells us to set a stop loss @ 45.63 in case the stock turns against the trade. 45.76 is the first level of resistance above 44.8, and by rule, any break above resistance is a buy signal. In this case, 45.76, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of XLRE if it tests 45.76 with a downside target of 44.79. We should have a stop loss in place at 45.89 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 45.76, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 44.83 begins to break higher, the technical summary data tells us to buy XLRE just slightly over 44.83, with an upside target of 45.14. The data also tells us to set a stop loss @ 44.73 in case the stock turns against the trade. 44.83 is the first level of resistance above 44.8, and by rule, any break above resistance is a buy signal. In this case, 44.83, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of XLRE if it tests 44.83 with a downside target of 43.88. We should have a stop loss in place at 44.93 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 44.83, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
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Trading or Investing in Real Estate Select Sector Spdr Fund (the) (NASDAQ: XLRE) involves an observation of the technicals, every time. This data reveals the current technicals.