The Energy sector has shown incredible strength during the market selloff as investors seek dividend paying stocks in a stage where rate hikes are inevitable. Historical data shows that energy sector outperforms in an economy with raising rates and this time is no different. With EPS around the corner for 
XLE biggest holdings (
XOM, 
CVX and 
OXY), best case scenario would be an increase in dividend which should send investors running towards these names.
The technical side of this trade shows an strong uptrend with 52 week highs as the indices trade in a correction. If we look at the MACD, fairly bullish breakout and above resistance with room to run and thanks to the recent selloff, the RSI has restarted on longer time frames.
Targets forXLE are 67, 72, and 76.
OptionsSwing Analyst
Daniel Betancourt
XLE biggest holdings (XOM, CVX and OXY), best case scenario would be an increase in dividend which should send investors running towards these names. The technical side of this trade shows an strong uptrend with 52 week highs as the indices trade in a correction. If we look at the MACD, fairly bullish breakout and above resistance with room to run and thanks to the recent selloff, the RSI has restarted on longer time frames.
Targets for
XLE are 67, 72, and 76. OptionsSwing Analyst
Daniel Betancourt
Nota
First Target of 67 hit! XOM Earnings was a blowout taking the entire sector with it.Nota
Good consolidation after a big move here. CPI numbers showing demand for Oil is not slowing down despite the rising prices. Less supply, higher demand; crude oil price will most likely leg up again.
Education first, profits second.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Education first, profits second.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.