Long entry would be above red resistance line and XLK went over that today with a high of 128.14. A confirmed up trend is also a good idea as price can get sucked back in to the horizontal channel. There is also a possible rising and narrowing wedge..There is also an ascending triangle with the same break out level as the rectangle.
Rectangles are a period of consolidation and are continuation patterns as a rule. Mid rectangle (MR) can be a stop whichever way price goes.
Ignore pink line..I was planning to draw the ascending triangle but it runs right along the top rectangle trendline, so looked confusing (o: I can not go back and change it now.
Not a recommendation.
Top 10 Holdings
Apple Inc
23.08%
Microsoft Corp
19.54%
Visa Inc Class A
4.28%
NVIDIA Corp
3.99%
Mastercard Inc A
3.58%
PayPal Holdings Inc
3.03%
Adobe Inc
2.77%
Salesforce.com Inc
2.70%
Intel Corp
2.48%
Cisco Systems Inc
2.20%
Rectangles are a period of consolidation and are continuation patterns as a rule. Mid rectangle (MR) can be a stop whichever way price goes.
Ignore pink line..I was planning to draw the ascending triangle but it runs right along the top rectangle trendline, so looked confusing (o: I can not go back and change it now.
Not a recommendation.
Top 10 Holdings
Apple Inc
23.08%
Microsoft Corp
19.54%
Visa Inc Class A
4.28%
NVIDIA Corp
3.99%
Mastercard Inc A
3.58%
PayPal Holdings Inc
3.03%
Adobe Inc
2.77%
Salesforce.com Inc
2.70%
Intel Corp
2.48%
Cisco Systems Inc
2.20%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.