It’s just in-day but the Energy sector (XLE) is breaking down from its bear flag. The same condition exists on my short position, CVX, along with XOM and other sector members. It could just be a short-term twitch for this sector, but the fact that it remained below the SMA 50 has kept it tilted to the bearish side even before today’s flag break. I may look to add another Energy short or two, pending the SMA 50.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
