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- 7/12/2024 -
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Industrial Select Sector SPDR (XLI) Technical Analysis

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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :Williams' Percentage Range is overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandPrice has crossed above the 50 Day Moving AverageBroken trend resistance line
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It was a first positive week for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 2.96 points, or 2.44%, and closed at 124.18 on Friday, July 12, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -12% 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 126.39 on April 4, 2024. XLI gained -111.25 points, or -734.81%, in 786 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (92.89) 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 long-term trend.

Medium-term trend: [See XLI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 96.11 and reached 126.39 on April 4, 2024. XLI gained -30.28 points, or -31.51%, in 22 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (131.69) 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 XLI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 26, 2024. Use the following link to access a MACD help.

Short-term trend: [See XLI short-term trend chart]
A short-term downtrend had started on May 10, 2024 at 126.22 and reached 119.67 on June 14, 2024. XLI lost 6.55 points, or 5.19%, in 35 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (120.47) 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 short-term trend.

Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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.

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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.09
Williams' Percentage Range (W%R) 13.80
Overbought
Lane's Stochastic (%D-Slow) 59.41
Greed/Fear Indicator (GFI) 67.58
Moving Average Converg./Diverg. (MACD) -0.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.53
Williams' Percentage Range (W%R) 24.40
Lane's Stochastic (%D-Slow) 37.27
Greed/Fear Indicator (GFI) 55.23
Moving Average Converg./Diverg. (MACD) 3.36
Trading Signals
Description Value Chart
Monthly Trendline Support 131.69
Monthly Trendline Resistance 125.95
Price 124.18
Upper Bollinger Band 124.17
Weekly Trendline Resistance 123.31
Daily Stochastic Crossing 123.22
50 Day Moving Average 123.04
20 Day Moving Average 122.11
Weekly Stochastic Crossing 122.03
Weekly Trendline Support 120.47
Lower Bollinger Band 120.38
Parabolic System 120.32
Yearly Trendline Resistance 107.54
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 120.25
Low Date 07/05/2024
High 124.90
High Date 07/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 123.31
Support 120.47
High 126.22
High Date 05/10/2024
Low 119.67
Low Date 06/14/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 125.95
Support 131.69
Low 96.11
Low Date 10/27/2023
High 126.39
High Date 04/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.75
Low Date 09/30/2022
High 126.39
High Date 04/04/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 107.54
Support 92.89
Low 15.14
Low Date 03/06/2009
High 126.39
High Date 04/04/2024
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.