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Vitalii Liubimov's Avatar
published in Blogs
May 18, 2023

The ETF Technology Select Sector XLK ($154.39) presents significant opportunities to profit from practically all technology company stocks.

On Wednesday, all major indices ended the regular session in positive territory. The Dow gained over 400 points, while the S&P 500 rose by 1.19% and the Nasdaq Composite increased by 1.28%. Our robots started taking on more risk and getting rid of short positions yesterday, as a breakout in the upward channel and a small rally became possible.

Investor sentiment seems to have improved after Washington leaders announced progress in debt ceiling negotiations. Wall Street will also be monitoring the weekly jobless claims data to assess the strength of the labor market. The Philadelphia Fed Manufacturing Survey data for May, as well as existing home sales data for April, are also expected to be published on Thursday morning.

 

The ETF Technology Select Sector XLK ($154.39) presents significant opportunities to profit from practically all technology company stocks. The market has been stagnant for a while, and a new upward trend may be emerging.

On May 10, 2023, the Moving Average Convergence Divergence (MACD) for XLK turned positive. Looking at historical instances where XLK's MACD turned positive, the stock continued to rise in 40 out of 49 cases over the following month. This suggests that the odds of a continued upward trend are 82%.

Furthermore, following a 3-day advance of +1.44%, the price of XLK is expected to continue growing. Analyzing data from situations where XLK advanced for three days, in 312 out of 345 cases, the price further increased within the following month. This indicates that the odds of a continued upward trend are 90%.

Additionally, the Aroon Indicator for XLK entered an uptrend today. In 395 out of 434 cases where XLK's Aroon Indicator entered an uptrend, the price continued to rise within the following month. Therefore, the odds of a continued uptrend are 90%.

Related Ticker: XLK

XLK sees MACD Histogram crosses below signal line

XLK saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on July 12, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 46 instances where the indicator turned negative. In of the 46 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for XLK moved out of overbought territory on July 11, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 45 similar instances where the indicator moved out of overbought territory. In of the 45 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on July 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on XLK as a result. In of 73 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where XLK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XLK advanced for three days, in of 352 cases, the price rose further within the following month. The odds of a continued upward trend are .

XLK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 413 cases where XLK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 1.00% within the next month with a likelihood of 66%.

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), NVIDIA Corp (NASDAQ:NVDA), Apple (NASDAQ:AAPL), Broadcom Inc. (NASDAQ:AVGO), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Advanced Micro Devices (NASDAQ:AMD), Adobe (NASDAQ:ADBE), QUALCOMM (NASDAQ:QCOM), Accenture PLC (NYSE:ACN).

Industry description

The investment seeks investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in the Technology Select Sector Index. In seeking to track the performance of the index, the fund employs a replication strategy, which means that the fund typically invests in substantially all of the securities represented in the index in approximately the same proportions as the index. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The fund is non-diversified.

Market Cap

The average market capitalization across the The Technology Select Sector SPDR® ETF ETF is 217.95B. The market cap for tickers in the group ranges from 11.16B to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is FFIV at 11.16B.

High and low price notable news

The average weekly price growth across all stocks in the The Technology Select Sector SPDR® ETF ETF was 6%. For the same ETF, the average monthly price growth was 15%, and the average quarterly price growth was 102%. EPAM experienced the highest price growth at 8%, while AMD experienced the biggest fall at -17%.

Volume

The average weekly volume growth across all stocks in the The Technology Select Sector SPDR® ETF ETF was 0%. For the same stocks of the ETF, the average monthly volume growth was -27% and the average quarterly volume growth was -48%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 59
P/E Growth Rating: 45
Price Growth Rating: 49
SMR Rating: 44
Profit Risk Rating: 29
Seasonality Score: 16 (-100 ... +100)
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