Technical Pulse: SPDR S&P Regional Banking ETF (NYSEARCA: KRE) March 13, 2023 437


SPDR S&P Regional Banking ETF (NYSEARCA: KRE) Potential continuation of the bearish momentum with the confluence of a bearish heads and shoulders and consolidation wedge breakdowns.


  1. The price has broken down the US$57.30 neckline of a bearish heads and shoukders formation coupled with breaking down a consolidation wedge simultaneously, which provides a bearish signal for further downside.
  2. The price could continue to trade lower to retest the support zone at US$36.30-40.30, when calculating the target area for the heads and shoulders breakdown by taking the height from the neckline to the head (US$19.69) and projecting onto the breakdown point at US$57.30.
  3. The support zone is also confluent with a 78.6% Fibonacci retracement level at US$36.42, calculated using a swing high of US$76.94 and swing low of US$25.38.





Red box = Resistance zone

Green box = Support zone




Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!

Featuring regular TA posts and requests to analyse specific stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!