KRE ETF trader tip: Technical Traders goes over KRE ETF, an ETF that allows traders and investors to learn more about the stock market movements of regional banks. Chris details how history is repeating itself by the KRE ETF recently emulating the consolidation pattern from April to November of 2020. Now that the highs of May 2021 have been broken, Chris looks at the weekly chart.
After a brief pullback, a KRE ETF bull flag has formed that is pointing to higher prices. This type of pattern can indicate that when price breaks to the upside, it can happen pretty quickly – over the course of 3 to 4 trading sessions.
Using the 30-minute chart and a conservative Fibanoci extension, Chris highlights where the power of the rally and pause of the KRE ETF can lead. The 100% measured move shows a 5+% move to the upside.
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