Global Tech companies made a great comeback since giving brave investors the best Christmas (time of Low) 2018 gift ever. ISHARES TRUST GLOBAL TECH now approaching its all time highs the made in August & October last year (2018). Nice little developed, confirming the reversal in the downtrend. Share price also made a Golden Cross with yesterdays close, confirming that the force is strong with this one. IXN however trading at extreme overbought levels according to its (Caution).
Should that right shoulder not break (above $177) upward, the downside resistant to watch is quite a bit lower. $166.50 will be my first target, with both the 50-day & 200-day moving average at $163, being a strong (also my stop-loss). Should we see a break through these levels, $154 could be next target with a break possibly testing the long-term at $142.
Traders that want to go long, shouldn’t do so with a weak heart 😉
Top10 holding currently: