KRE (regional bank sector ETF) will be added as an Active Long Swing Trade around current levels. The price targets are T1 at 49.29 & T2 at 51.07 with a suggested stop on any move below 44.79 & a beta-adjusted position size of 1.0.
As with yesterday’s long entries on IWM & QQQ, this should be considered an aggressive, counter-trend trade & as such, one should pass if that does not mesh with their trading style, risk tolerance or outlook on the market/sector. An alternative, higher probability entry could be taken on a breakout above the 60-minute downtrend line, albeit at a potentially less favorable entry price. The previous notes as well as the long-term weekly chart on the KRE trade idea can be view by clicking here or on the KRE symbol tag located below this post (next to the date & category).