The Greedy Trader Weekly Analysis
Sign In May 25, 2018
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Materials Select Sector SPDR
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Summary:
Weekly :Broken trend support lineTrend resistance at 60.41
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBearish Advance Block Candlestick
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It was a third consecutive positive week for the Materials Select Sector SPDR (XLB). During the week, the XLB gained 0.97 points, or 1.65%, and closed at 59.86 on Friday, May 18, 2018. XLB was trading at average weekly trading volume.

Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 64.17 on January 26, 2018. XLB gained -46.34 points, or -259.90%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (60.41). 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 64.17 on January 26, 2018. XLB gained -27.88 points, or -76.83%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (62.85) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 2, 2018. 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 May 1, 2018 at 56.22 and reached 60.03 on May 18, 2018. XLB gained -3.81 points, or -6.78%, in 17 days. Price is near the trend high.

Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is above its signal line since May 7, 2018. This is an indication that the short-term trend is up.

Candlestick pattern: [See XLB candlestick chart pattern]
On Friday the chart has formed a Bearish Advance Block Candlestick pattern. This pattern occurs in an uptrend; it is not a top reversal pattern, but it might precede a meaningful price decline. The reliability of the Bearish Advance Block pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Advance Block Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 86.63
Overbought
Williams' Percentage Range (W%R) 8.40
Strong Overbought
Lane's Stochastic (%D-Slow) 92.13
Strong Overbought
Greed/Fear Indicator (GFI) 90.12
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.60
Williams' Percentage Range (W%R) 49.80
Lane's Stochastic (%D-Slow) 51.22
Greed/Fear Indicator (GFI) 50.22
Moving Average Converg./Diverg. (MACD) 0.31
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 70.03
Quarterly Trendline Support 62.85
Upper Bollinger Band 60.51
Yearly Trendline Resistance 60.41
Daily Stochastic Crossing 59.86
Price 59.86
20 Day Moving Average 58.20
50 Day Moving Average 58.20
Parabolic System 57.88
Weekly Stochastic Crossing 57.64
Lower Bollinger Band 56.67
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.22
Low Date 05/01/2018
High 60.03
High Date 05/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.22
Low Date 05/01/2018
High 60.03
High Date 05/18/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.17
High Date 01/26/2018
Low 55.21
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 70.03
Support 62.85
Low 36.29
Low Date 01/20/2016
High 64.17
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 60.41
Support 44.06
Low 17.83
Low Date 03/06/2009
High 64.17
High Date 01/26/2018
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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