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ETFs Technical Analysis - SHYArchive
- 5/10/2024 -
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iShares Lehman 1-3 Year Treasury Bond (SHY) Technical Analysis
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| Summary:
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| | It was the negative week for the iShares Lehman 1-3 Year Treasury Bond (SHY). During the week, the SHY gave back -0.02 points, or -0.02%, and closed at 81.28 on Friday, May 10, 2024. Weekly volume was -52% below average.
 Long-term trend: [See SHY long-term trend chart]
A long-term downtrend had started on April 30, 2020 at 86.80 and reached 80.48 on March 8, 2023. SHY lost 6.32 points, or 7.28%, in 148 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (80.73) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SHY may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See SHY medium-term trend chart]
A medium-term uptrend had started on July 6, 2023 at 80.55 and reached 82.39 on January 31, 2024. SHY gained -1.84 points, or -2.28%, in 29 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.92 and resistance is at 82.90. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SHY weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since March 1, 2024. Use the following link to access a MACD help.
 Short-term trend: [See SHY short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 80.91 and reached 81.39 on May 3, 2024. SHY gained -0.48 points, or -0.59%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See SHY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (81.21) comes close to the price (81.28). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 0.34% on Friday. It is 52.72% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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