|
Downtrend Broken Resist.Archive - 4/26/2024 - Sign In to see current Signals. |
Materials Select Sector SPDR (XLB) Technical Analysis
|
|
| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the Materials Select Sector SPDR (XLB). During the week, the XLB climbed 0.56 points, or 0.63%, and closed at 89.52 on Friday, April 26, 2024. Weekly volume was -23% below average. Long-term trend: [See XLB long-term trend chart] A long-term uptrend had started on September 27, 2022 at 66.85 and reached 93.72 on April 4, 2024. XLB gained -26.87 points, or -40.19%, in 79 weeks. The price is now at the 15.63% retracement level. Medium-term trend: [See XLB medium-term trend chart] A medium-term uptrend had started on October 23, 2023 at 74.33 and reached 93.72 on April 4, 2024. XLB gained -19.39 points, or -26.09%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 87.83 and resistance is at 95.55. 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 medium-term trend. Weekly Technical Indicators: [See XLB weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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. The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 25, 2024 at 87.55 and reached 89.90 on April 26, 2024. XLB gained -2.35 points, or -2.68%, in 1 days. The price is now at the 16.17% retracement level. 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 above oversold area. Such crossover is considered a bullish signal. The daily MACD line is below its signal line since March 28, 2024. 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. 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.
| |
|
|