1 Industry On Watch To Soar Higher
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– ETF Watchlist –
Wednesday closed out as a green day for the market with a surprise guest appearance by the sector that made it to the top of the list, real estate. A sector that doesn’t often make it to the top of this list, the real estate sector was well above the sector/industry we are looking at today.
Within the financials sector, there was one pocket that showed some promise as a trade to the upside. This was the regional banking industry ETF. To take a deeper dive into the trade we are eyeing on this ETF, let’s talk about it more below.
SPDR S&P Regional Banking ETF (KRE)
The KRE briefly surpassed a level we have had our eyes on for quite some time now. That level is 47, which before price fell back below, was broken in what could be setting up for a larger move to the upside. Remember, this is the industry that took its fair share of lumps when smaller banks were failing or were feared to be on the brink.
Fast forward to now and this ETF looks poised to make a comeback in the near term. If price can break above and show 47 is the new level of support, then we would be very interested in taking it long. Ideally, we would see a pullback, but we first want to confirm buyers are stepping back in at this key level. Join Smart Trades to see if we take this trade, as well as all the other trades we take.
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