XLP - Horizontal Trend Channel

- XLP is within an approximate horizontal trend channel in the medium long term.
- A break upwards will be a positive signal, while a break downwards will be a negative signal.
- The price has broken the resistance at 77.23 of an an inverse head and shoulders formation.
- Decisive breaks of such formations are considered strong signals of further rise.
- The stock has marginally broken up through resistance at 77.30.
- Volume tops and volume bottoms correspond badly with tops and bottoms in the price.
- RSI above 70 shows that the stock has strong positive momentum in the short term.
- The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well.
- Overall assessed as technically positive for the medium long term.

*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price

*Chart Pattern
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN

Verify it first and believe later.

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