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Archive
- 7/19/2024 -
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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 the negative week for the Health Care Select Sector SPDR (XLV). During the week, the XLV gave back -0.31 points, or -0.21%, and closed at 147.87 on Friday, July 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 151.33 on July 17, 2024. XLV gained -28.74 points, or -23.44%, in 37 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (143.67) 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 XLV medium-term trend chart]
A medium-term uptrend had started on April 18, 2024 at 138.21 and reached 151.33 on July 17, 2024. XLV gained -13.12 points, or -9.49%, in 12 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (148.18). 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 medium-term trend.
 Weekly Technical Indicators: [See XLV weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See XLV short-term trend chart]
A short-term uptrend had started on July 3, 2024 at 142.73 and reached 151.33 on July 17, 2024. XLV gained -8.60 points, or -6.03%, in 14 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See XLV daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 10, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (146.97) comes close to the price (147.87). It indicates that the trend is getting weaker. 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.
 Candlestick pattern: [See XLV candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Cross Candlestick pattern. A Bullish Harami Cross pattern occurs in a downtrend, it shows that the market is starting to sever itself from the prior downtrend. The reliability of the Bullish Harami Cross pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Cross Candlestick pattern during the last week.
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