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Select Sector SPDR ETFs Technical Analysis

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- 1/7/2022 -
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Materials Select Sector SPDR (XLB)

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Summary:
Weekly :Lane's Stochastic bearish divergenceBroken trend resistance lineTrend resistance at 82.70
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -1.31 points, or -1.45%, and closed at 89.30 on Friday, January 7, 2022. It was the worst weekly loss since November 26, 2021. Weekly volume was 34% above average.

Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 92.31 on January 5, 2022. XLB gained -74.48 points, or -417.72%, in 669 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (56.74) 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 XLB medium-term trend chart]
A medium-term uptrend had started on March 16, 2020 at 37.69 and reached 92.31 on January 5, 2022. XLB gained -54.62 points, or -144.92%, in 94 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (82.70). 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 XLB weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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.

The weekly MACD line is above its signal line since November 5, 2021. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See XLB short-term trend chart]
A short-term uptrend had started on December 1, 2021 at 83.75 and reached 92.31 on January 5, 2022. XLB gained -8.56 points, or -10.22%, in 35 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 85.39 and resistance is at 92.77. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since December 23, 2021. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.39
Williams' Percentage Range (W%R) 36.40
Lane's Stochastic (%D-Slow) 50.41
Greed/Fear Indicator (GFI) 57.12
Moving Average Converg./Diverg. (MACD) 0.73
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.92
Williams' Percentage Range (W%R) 20.20
Lane's Stochastic (%D-Slow) 74.47
Bearish
Greed/Fear Indicator (GFI) 71.00
Moving Average Converg./Diverg. (MACD) 1.73
Trading Signals
Description Value Chart
Weekly Trendline Resistance 92.77
Upper Bollinger Band 91.81
Parabolic System 90.78
Daily Stochastic Crossing 90.49
Weekly Stochastic Crossing 90.17
Quarterly Trendline Support 89.46
Price 89.30
20 Day Moving Average 88.78
50 Day Moving Average 87.98
Lower Bollinger Band 86.08
Weekly Trendline Support 85.39
Quarterly Trendline Resistance 82.70
Yearly Trendline Resistance 74.42
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 92.31
High Date 01/05/2022
Low 88.91
Low Date 01/07/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 92.77
Support 85.39
Low 83.75
Low Date 12/01/2021
High 92.31
High Date 01/05/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 78.37
Low Date 09/20/2021
High 92.31
High Date 01/05/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 82.70
Support 89.46
Low 37.69
Low Date 03/16/2020
High 92.31
High Date 01/05/2022
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 74.42
Support 56.74
Low 17.83
Low Date 03/06/2009
High 92.31
High Date 01/05/2022
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.

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