The Greedy Trader Weekly Analysis
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Archive
- 12/8/2017
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Materials Select Sector SPDR
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Summary:
Weekly :Williams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceTrend resistance at 59.22
Daily :A Parabolic SAR indicator is below and near the price
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It was a fourth consecutive positive week for the Materials Select Sector SPDR (XLB). During the week, the XLB climbed 0.35 points, or 0.59%, and closed at 59.43 on Friday, December 08, 2017. Weekly volume was 31% above average.

Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 60.17 on December 4, 2017. XLB gained -42.34 points, or -237.46%, in 456 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (59.22). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.

Medium-term trend: [See XLB medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 36.29 and reached 60.17 on December 4, 2017. XLB gained -23.88 points, or -65.80%, in 97 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 54.28 and resistance is at 60.12. 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 strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 15, 2017. 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 November 15, 2017 at 57.26 and reached 60.17 on December 4, 2017. XLB gained -2.91 points, or -5.08%, in 19 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since November 27, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (59.78) comes close to the price (59.43). 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.16
Williams' Percentage Range (W%R) 23.00
Lane's Stochastic (%D-Slow) 53.41
Greed/Fear Indicator (GFI) 64.51
Moving Average Converg./Diverg. (MACD) 0.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.15
Bearish
Williams' Percentage Range (W%R) 9.90
Strong Overbought
Lane's Stochastic (%D-Slow) 72.76
Bearish
Greed/Fear Indicator (GFI) 74.26
Moving Average Converg./Diverg. (MACD) 1.44 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 60.12
Upper Bollinger Band 60.12
Parabolic System 59.78
Price 59.43
Daily Stochastic Crossing 59.38
Weekly Stochastic Crossing 59.33
Yearly Trendline Resistance 59.22
20 Day Moving Average 58.77
50 Day Moving Average 58.52
Monthly Trendline Resistance 58.32
Lower Bollinger Band 57.77
Monthly Trendline Support 57.63
Quarterly Trendline Support 54.28
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 57.26
Low Date 11/15/2017
High 60.17
High Date 12/04/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.41
Low Date 08/11/2017
High 60.17
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 58.32
Support 57.63
Low 45.56
Low Date 10/13/2016
High 60.17
High Date 12/04/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 60.12
Support 54.28
Low 36.29
Low Date 01/20/2016
High 60.17
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 59.22
Support 42.87
Low 17.83
Low Date 03/06/2009
High 60.17
High Date 12/04/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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