It’s been a rough past 5 weeks for the Aerospace & Defense Sector ETF (XAR).
But relief might be in sight. Unfortunately, that relief may still be 8-10% lower.
Today’s chart is a long-term “weekly’ chart. As we can see, the up-trend is still in place.
Bulls will need to step up soon. It is currently testing support at $240. After that, its next (and more likely) price support comes in around the $224-$225 pivot area from last fall.
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$XAR Aerospace & Defense Sector ETF “weekly” Chart
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
