Retail Stocks Stabilize as Technical Indicators Improve, Stockton Says
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Retail stocks are stabilizing after a recent correction as short-term momentum improves and the SPDR S&P Retail ETF (XRT) shows a pending oversold upturn, Fairlead Strategies Founder and Managing Partner Katie Stockton said. XRT has lagged the S&P 500 over both the short and long term. Its relative-strength ratio is testing support from a September low, while signs of short-term selling exhaustion point to a possible temporary improvement in relative performance. The ETF’s technical outlook would strengthen if it moves above its 200-day moving average near $86.
Source: TokenPost
