Retail stocks are showing some strength as they come into an important breakout price resistance zone.
The Retail Sector ETF (XRT) is currently trading at its Money Flow Unit 2 (MFU-2) price target area.
Although we may see a pause here, we expect XRT to move higher and eventually get to the MFU-3 price target of $90.85.
A breakout over $80-$81 would be an indication that XRT is ready to move higher.
$XRT Retail Sector ETF Trading Charts
Twitter: @GuyCerundolo
The author or his firm 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.
