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Uptrend Broken SupportArchive
- 4/5/2024 -
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LyondellBasell (LYB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the LyondellBasell (LYB). During the week, the LYB gained 2.50 points, or 2.44%, and closed at 104.78 on Friday, April 5, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was -12% below average.
LYB is a member of Materials Sector. Materials is the most overbought 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 downtrend had started on June 3, 2021 at 118.02 and reached 71.46 on September 23, 2022. LYB lost 46.56 points, or 39.45%, in 68 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 47.42 and resistance is at 115.74. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See LYB medium-term trend chart]
A medium-term uptrend had started on September 23, 2022 at 71.46 and reached 106.69 on April 4, 2024. LYB gained -35.23 points, or -49.30%, in 79 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (95.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 LYB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See LYB short-term trend chart]
A short-term uptrend had started on December 13, 2023 at 90.60 and reached 106.69 on April 4, 2024. LYB gained -16.09 points, or -17.76%, in 113 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (93.12) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.
 Daily Technical Indicators: [See LYB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 26, 2024. This is an indication that the short-term trend is up.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
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