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Archive
- 4/26/2024 -
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SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) Technical Analysis
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| Summary:
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| | It was a first positive week after 3 consecutive negative weeks for the SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). During the week, the SPIB climbed 0.08 points, or 0.25%, and closed at 32.16 on Friday, April 26, 2024. Weekly volume was -26% below average.
 Long-term trend: [See SPIB long-term trend chart]
A long-term uptrend had started on October 21, 2022 at 30.69 and reached 32.97 on February 1, 2024. SPIB gained -2.28 points, or -7.43%, in 66 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 30.96 and resistance is at 33.06. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See SPIB medium-term trend chart]
A medium-term uptrend had started on October 19, 2023 at 30.89 and reached 32.97 on February 1, 2024. SPIB gained -2.08 points, or -6.73%, in 15 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See SPIB weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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.
The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.
 Short-term trend: [See SPIB short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 32.75 and reached 31.98 on April 16, 2024. SPIB lost 0.77 points, or 2.35%, in 39 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern.
 Daily Technical Indicators: [See SPIB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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 is close to the moving average in the center of the Bollinger Bands. 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.
Price is close to the 50 Day Moving Average. 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.
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