ETF of the Day – The Energy Select Sector SPDR ETF (XLE) - Chaikin Analytics

ETF of the Day – The Energy Select Sector SPDR ETF (XLE)

While the near-term weakness in energy combined with recent volatility in the sector is being talked about daily, having a process to locate funds that are oversold and that still remain in an uptrend can serve as a less emotional way of finding opportunity. As an example, we can see that XLE is trading just below recent highs and is holding the support at the swing high back in the May-June time frame of 2020. It has a rising long-term trend line and the fund is oversold while Chaikin Money Flow has lived on the bullish side of the zero line for several months, showing persistence, as has Relative Strength. 

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