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Select Sector SPDR ETFs Technical Analysis - XLIArchive
- 5/10/2024 -
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Industrial Select Sector SPDR (XLI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 2.91 points, or 2.37%, and closed at 125.68 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -38% below average.
 Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 126.39 on April 4, 2024. XLI gained -111.25 points, or -734.81%, in 786 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (92.02) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 XLI medium-term trend chart]
A medium-term downtrend had started on April 4, 2024 at 126.39 and reached 120.17 on April 19, 2024. XLI lost 6.22 points, or 4.92%, in 2 weeks. The price is now at the 88.59% retracement level.
 Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 below its signal line since April 26, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See XLI short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 120.17 and reached 126.22 on May 10, 2024. XLI gained -6.05 points, or -5.03%, in 21 days. The price is now at the 8.93% retracement level.
 Daily Technical Indicators: [See XLI 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.
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