SXY recently moved up from the bottom of a price channel it has been respecting for some 18 months. Last week it broke and closed (just) above resisrance at $3.65 to give a potential target of $4.38. SXY can be a 'tricky' stock to trade and while the target is technically valid. I'd see anything over $4.00 as time to have my finger on the eject button. 

22 July 2021

My target of $3.60 was met (almost exactly) in mid-June - also as suggested. Price has since fallen back to the lower boundary of the price channel and could be expected to repeat this pattern of seesawing between the channel boundaries by now returning to the upper boundary. Assuming price breaks and closes above $3.60 it would suggest a target of $4.12 in about 2 months (timing can be a bit rubbery in charting)

A note of caution that these rising flag patterns almost always end with price falling out the  bottom of said channel and as this channel has been running for some time, its demise is likely to be sooner rather than later.

4 June 2021

See my energy sector report for more recent commentary on SXY

14 May 2021

Price has been moving in a predictable manner within a rising price channel. With price having fallen back to the lower boundary of that channel there is a high probability that price will once again rise back to the top boundary. This would be a relatively high risk trade as price will eventually fall out of the bottom of this channel - and that fall could be about to happen. Assuming price does rise then the target would be $3.60 - possibly around mid-June.

26 September2020

Price moved up as predicted and two targeting techniques confirmed a target price of around $0.35. I sold out just short of the target (not wanting to get caught in the rush for the doors if/when price rolled over. A good trade and a good example of charting techniques.

28 August 2020

SXY is a tricky stock to trade profitably and over the years I've had a few wins and a few losses - so I treat SXY with caution. It has broken above a downtrend, made a new uptrend (from point marked with small red down arrow) and making higher lows and highs. Add on a resistance break pattern confirmed today with a target of $0.35 and SXY has ticked all the boxes on my checklist. Elliott Wave count could be Wave 3 which is another plus as Wave 3 is the longest and strongest rising wave.

For anyone into Time Theory the vertical lines are time lines and you can see that price changed direction close to most.