XLK Technology Select Sector SPDR® ETF Forecast, Technical & Fundamental Analysis
XLK in +1.42% Uptrend, rising for three consecutive days on October 02, 2023
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where XLK advanced for three days, in of 343 cases, the price rose further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where XLK's RSI Indicator exited the oversold zone, of 22 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 47 cases where XLK's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that 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.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 13, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on XLK as a result. In of 66 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for XLK turned negative on September 13, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
XLK moved below its 50-day moving average on September 12, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for XLK crossed bearishly below the 50-day moving average on September 18, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following 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 .
The Aroon Indicator for XLK entered a downward trend on October 03, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Technology
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XLK and
Correlation & Price change
A.I.dvisor indicates that over the last year, XLK has been closely correlated with FTEC. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if XLK jumps, then FTEC could also see price increases.