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Downtrend ResistanceArchive
- 6/6/2025 -
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Technology Select Sector SPDR (XLK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Technology Select Sector SPDR (XLK). During the week, the XLK gained 7.45 points, or 3.23%, and closed at 238.36 on Friday, June 6, 2025. Weekly volume was 25% above average.
 Long-term trend: [See XLK long-term trend chart]
A long-term downtrend had started on February 19, 2025 at 243.10 and reached 172.50 on April 7, 2025. XLK lost 70.60 points, or 29.04%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (162.61). 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 long-term trend.
 Medium-term trend: [See XLK medium-term trend chart]
A medium-term uptrend had started on April 7, 2025 at 172.50 and reached 239.57 on June 5, 2025. XLK gained -67.07 points, or -38.88%, in 8 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (239.29) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.
 Weekly Technical Indicators: [See XLK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 May 9, 2025. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See XLK short-term trend chart]
A short-term uptrend had started on May 23, 2025 at 225.10 and reached 239.57 on June 5, 2025. XLK gained -14.47 points, or -6.43%, in 13 days. The price is now at the 8.36% retracement level.
 Daily Technical Indicators: [See XLK daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since May 23, 2025. The distance between MACD and the signal line is low and getting smaller.
The price touches the upper Bollinger Band. 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.
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