Industrial Select Sector SPDR
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|It was a fifth consecutive positive week for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 1.48 points, or 1.91%, and closed at 79.07 on Friday, September 14, 2018. It was the best weekly gain since July 27, 2018. Weekly volume was -21% 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 80.96 on January 29, 2018. XLI gained -65.82 points, or -434.74%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (61.34) 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 January 29, 2018 at 80.96 and reached 70.03 on May 3, 2018. XLI lost 10.93 points, or 13.50%, in 13 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (71.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XLI may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.
Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 27, 2018. 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 June 28, 2018 at 70.82 and reached 79.13 on September 14, 2018. XLI gained -8.31 points, or -11.73%, in 78 days. Price is near the trend high.
Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since September 4, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.