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Select Sector SPDR ETFs Technical Analysis - XLBArchive
- 5/10/2024 -
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Materials Select Sector SPDR (XLB) Technical Analysis
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| Summary:
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| | It was a third positive week after 3 consecutive negative weeks for the Materials Select Sector SPDR (XLB). During the week, the XLB gained 2.31 points, or 2.58%, and closed at 91.84 on Friday, May 10, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -40% below average.
 Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 66.85 and reached 93.72 on April 4, 2024. XLB gained -26.87 points, or -40.19%, in 79 weeks. The price is now at the 7.00% retracement level.
 Medium-term trend: [See XLB medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 74.33 and reached 93.72 on April 4, 2024. XLB gained -19.39 points, or -26.09%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 88.85 and resistance is at 96.65. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See XLB short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 87.55 and reached 92.21 on May 10, 2024. XLB gained -4.66 points, or -5.32%, in 15 days. The price is now at the 7.94% retracement level.
 Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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