Chart of the Day - Thursday, August 26th, 2021

Today’s Chart of the Day was shared on Twitter by Alfonso Depablos (@AlfCharts). It's a chart of the Robotics & Artificial Intelligence ETF, $BOTZ, over the past four years. The top five weighted stocks in this ETF include NVIDIA ($NVDA), Keyence (6861), Intuitive Surgical ($ISRG), ABB Ltd. ($ABBN), and Upstart Holdings ($UPST). Alfonso points out that $BOTZ is attempting to break out of a 6-month consolidation within a strong uptrend. This healthy consolidation has taken place at a key Fibonacci level - the 1.618% extension of the 2018-2020 decline, around $35. Price hasn't reached an all-time high just yet, but it closed less than 1% shy of one today. If $BOTZ does break out into blue-sky territory, the next major Fibonacci level is around $47, which is about 30% higher from here.