Technical Snapshot

Swing Trader Notes

• Two entry points are typically provided to accommodate for different trading styles and risk tolerances.
• All entry signals will be canceled once opposing support or resistance areas are hit.
• Alternate entries can be taken at the current price, without a retracement to support or resistance, using a tighter stop loss.
• Using support/resistance levels as 'levels of interest' and waiting for evidence of buying or selling pressure at these levels before taking action is likely to enhance the odds of success.
• Once one support area is broken, the expectation is that price will likely to trade lower to the next support area. Similarly, once one resistance area is broken, the expectation is that price will likely to trade higher to the next resistance area.
• Once profit starts accumulating in a position, it's prudent to manage the trade using trailing stops or other personal risk management techniques to avoid giving back any accumulated profits.

Prior Edition Recap: 3.23.26-4.5.26

• PSX: price triggered entry as it broke above its 179.02 confirmation point, continuing higher before reversing back toward that area. Its initial downside support range comes in from 162.50-160.60, followed by 152.45-149.15. This trade idea remains valid as long as price holds above its 149.15 invalidation point.
• DOW: price retraced toward its initial downside support range from 34.55-32.95 without fully reaching it, then reversed higher and triggered entry at its 38.58 confirmation point, continuing higher form there.Its initial downside support range comes in from 34.55-32.95, followed by 30.70-29.20. This trade idea remains valid as long as price holds above its 29.20 invalidation point. Stops should be trailed to protect accumulated profits.
• ARKK: price triggered entry at its initial overhead resistance range from 73.50-72.00 and reversed lower toward its first target support range from 65.00-63.50, breaking slightly below it. Price has since reversed slightly higher. Its next target support range comes in from 62.50-60.50. This trade idea remains valid as long as price holds below its 75.68 invalidation point. Stops should be trailed to protect accumulated profits as price approaches its targets
• AMZN: price triggered entry at its initial overhead resistance range from 215.70-212.85 and reversed lower toward its first target support range from 198.85-196.00. Price has since reversed higher back toward its initial overhead resistance range from 215.70-212.85. This trade idea remains valid as long as price holds below its 220.47 invalidation point and is included in this edition as a trade idea.
• CRWD: price triggered entry after breaking below its 403.61 confirmation point, continuing lower toward its first target support range from 352.50-342.70 before reversing slightly higher just above it. Its next target support range comes in from 325.00-310.00. This trade idea remains valid as long as price holds below its 452.00 invalidation point. Stops should be trailed to protect accumulated profits as price approaches its targets.

Technical Levels to Watch

XLE: S&P SPDR Energy ETF

• Action: LONG
• Technical Reason: the Weekly trend is moving higher, forming two new levels of downside support where we will look to initiate a long position on a retracement. The first support range comes in from 56.25-55.35, followed by 55.00-54.10 below. A break below 149.15 will invalidate the long thesis. If triggered, targets are the overhead resistance range from 63.45-62.00, followed by new all-time highs.
• Technical Levels:
  • Invalidation Point: long thesis will be invalidated below 54.10.
  • Entries:
    • Long at 56.25-55.35 (Support 1)
    • Long at 55.00-54.10 (Support 2)
  • Targets:
    • Target 1: 63.45-62.00 (Resistance 1)
    • Target 2: manage the trade using a trailing stop, as there is no more price resistance overhead.

SLB: SLB Ltd

• Action: LONG
• Technical Reason: the Weekly trend is moving higher, forming two new levels of downside support where we will look to initiate a long position on a retracement. The first support range comes in from 48.00-46.40, followed by 45.50-43.55 below. Alternatively, a long entry can be taken on a break above 51.10. A break below 43.55 will invalidate the long thesis. If triggered, targets are the overhead resistance areas: Target 1 from 55.65-54.50 and Target 2 from 57.75-56.65.
• Technical Levels:
  • Invalidation Point: long thesis will be invalidated below 43.55.
  • Entries:
    • Long break above 51.10 (Breakout)
    • Long at 48.00-46.40 (Support 1)
    • Long at 45.50-43.55 (Support 2)
  • Targets:
    • Target 1: 55.65-54.50 (Resistance 1)
    • Target 2: 57.75-56.65 (Resistance 2)

SPY: S&P 500 ETF

• Action: SHORT
• Technical Reason: the Weekly trend has shifted lower, forming two new levels of overhead resistance where we will look to initiate a short position on a retracement. The first resistance range comes in from 663.00-656.85, followed by 674.45-669.75 above. Alternatively, a short position can be initiated on a break below 645.11. A break above 674.45 will invalidate the short thesis. If triggered, targets are the downside support areas: Target 1 from 624.75-618.00 and Target 2 from 598.25-592.00.
• Technical Levels:
  • Invalidation Point: long thesis will be invalidated above 674.45.
  • Entries:
    • Short break below 645.11 (Breakout)
    • Short at 663.00-656.85 (Resistance 1)
    • Short at 674.45-669.75 (Resistance 2)
  • Targets:
    • Target 1 at 624.75-618.00 (Support 1)
    • Target 2 at 598.25-592.00 (Support 2)

AMZN: Amazon.com Inc

• Action: SHORT
• Technical Reason: the Weekly trend has shifted lower, forming two new levels of overhead resistance where we will look to initiate a short position on a retracement. The first resistance range comes in from 215.70-212.85, followed by 220.47-216.85 above. Alternatively, a short position can be initiated on a break below 204.90. A break above 220.47 will invalidate the short thesis. If triggered, targets are the downside support areas: Target 1 from 198.85-196.00 and Target 2 from 192.00-188.85.
• Technical Levels:
  • Invalidation Point: short thesis will be invalidated above 220.47.
  • Entries:
    • Short break below 204.90 (Breakout)
    • Short at 215.70-212.85 (Resistance 1)
    • Short at 220.47-216.85 (Resistance 2)
  • Targets:
    • Target 1 at 198.85-196.00 (Support 1)
    • Target 2 at 192.00-188.85 (Support 2)

AVGO: Broadcom Inc

• Action: SHORT
• Technical Reason: the Weekly trend has shifted lower, forming two new levels of overhead resistance where we will look to initiate a short position on a retracement. The first resistance range comes in from 329.20-318.25, followed by 345.80-336.00 above. Alternatively, a short position can be initiated on a break below 301.75. A break above 353.15 will invalidate the short thesis. If triggered, targets are the downside support areas: Target 1 from 290.00-281.85 and Target 2 from 275.60-269.55.
• Technical Levels:
  • Invalidation Point: short thesis will be invalidated above 353.15.
  • Entries:
    • Short at 329.20-318.25 (Resistance 1)
    • Short at 345.80-336.00 (Resistance 2)
  • Targets:
    • Target 1 at 290.00-281.85 (Support 1)
    • Target 2 at 275.60-269.55 (Support 2)

Thank you for reading. Please stay tuned for more insights and updates on April 20, 2026.

--Column originally published on April 6, 2026, by Chris Duhanci, CMT, Briefing.com