XLK the best performing Sector

Since the beginning of June, XLK – the Technology Select Sector SPDR Fund – is trading in a strong bullish channel. It fact, it moves between its 10-day exponential moving average and the upper Bollinger Band.

What is more, XLK’s 20- and 50-day exponential moving averages are both rising below its 10-day exponential moving average another sign of strong uptrend.

This bullish momentum is also evident in MACD, which moves up and above its signal line to a positive territory.

Finally, since the beginning of June, XLK’s Relative Strength is rising and moving above its 20-day exponential moving average.

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