Xylem (XYL) specializes in water technology and spent this week pushing to new highs. This breakout looks good as it moves above a zone of resistance that has been in place for nine months.
What I like most about the chart is the breakout comes after consolidating major gains from early 2016. Water is a growth industry and this chart looks set up to perform.
I posted a Commodities Countdown video this week with some ideas around Commodities. It might be one of the best months to start getting involved in Commodities.
Commodities Countdown Video With Greg Schnell 2017-7-13 from StockCharts.com on Vimeo.
Good trading,
Greg Schnell, CMT, MFTA
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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