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|It was the negative week for the LyondellBasell (LYB). During the week, the LYB dropped -3.32 points, or -3.06%, and closed at 105.31 on Friday, September 14, 2018. Weekly volume was 41% above average. |
LYB is a member of Basic Materials Sector. Basic Materials is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See LYB long-term trend chart]
A long-term uptrend had started on June 6, 2017 at 78.01 and reached 121.95 on January 29, 2018. LYB gained -43.94 points, or -56.33%, in 33 weeks. The chart has formed a Rising Pennant chart pattern. The price is near the trend support (106.15) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
Medium-term trend: [See LYB medium-term trend chart]
A medium-term downtrend had started on May 24, 2018 at 119.39 and reached 103.85 on September 14, 2018. LYB lost 15.54 points, or 13.02%, in 16 weeks. The price is now at the 9.40% retracement level.
Weekly Technical Indicators: [See LYB weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 August 31, 2018. 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 LYB short-term trend chart]
A short-term downtrend had started on August 27, 2018 at 116.63 and reached 103.85 on September 14, 2018. LYB lost 12.78 points, or 10.96%, in 18 days. The price is now at the 11.42% retracement level.
Daily Technical Indicators: [See LYB daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since August 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.