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Uptrend ExhaustionArchive
- 4/19/2024 -
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Health Care Select Sector SPDR (XLV) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Health Care Select Sector SPDR (XLV). During the week, the XLV climbed 0.04 points, or 0.03%, and closed at 138.95 on Friday, April 19, 2024. XLV was trading at average weekly trading volume.
 Long-term trend: [See XLV long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 122.59 and reached 148.27 on February 23, 2024. XLV gained -25.68 points, or -20.95%, in 17 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (153.24) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. XLV may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.
 Medium-term trend: [See XLV medium-term trend chart]
A medium-term downtrend had started on February 23, 2024 at 148.27 and reached 138.21 on April 18, 2024. XLV lost 10.06 points, or 6.78%, in 7 weeks. The price is now at the 7.36% retracement level.
 Weekly Technical Indicators: [See XLV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See XLV short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 148.23 and reached 138.21 on April 18, 2024. XLV lost 10.02 points, or 6.76%, in 21 days. The price is now at the 7.39% retracement level.
 Daily Technical Indicators: [See XLV 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. 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 below its signal line since March 28, 2024. This is an indication that the short-term trend is down.
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