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Archive
- 4/26/2024 -
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SPDR Homebuilders (XHB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the SPDR Homebuilders (XHB). During the week, the XHB gained 3.56 points, or 3.55%, and closed at 103.72 on Friday, April 26, 2024. Weekly volume was -12% below average.
 Long-term trend: [See XHB long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 51.23 and reached 111.96 on March 28, 2024. XHB gained -60.73 points, or -118.54%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (81.19) 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 XHB medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 111.96 and reached 99.58 on April 19, 2024. XHB lost 12.38 points, or 11.06%, in 3 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (103.13). 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 XHB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See XHB short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 99.58 and reached 104.68 on April 24, 2024. XHB gained -5.10 points, or -5.12%, in 5 days. The price is now at the 18.82% retracement level.
Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is low and getting smaller.
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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.
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