The Technology Select Sector SPDR (XLK, Financial) has established pivot points at a high of $202.40 and a low of $195.77. These levels have been determined using the DeMark method, a popular technical analysis tool for predicting market trends.
The pivot point analysis suggests a bullish outlook if the XLK stock price exceeds the $202.40 level, potentially signaling upward momentum. Conversely, a price dip below the $195.77 mark could indicate a bearish trend, suggesting a downward movement in the stock.
These pivot points are crucial for traders and investors as they navigate potential price movements in the technology sector, aiming to capitalize on the indications of bullish or bearish trends based on these key levels.
