|
|
Uptrend SupportArchive
- 5/10/2024 -
Sign In to see current Signals. |
Utilities Select Sector SPDR (XLU) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the Utilities Select Sector SPDR (XLU). During the week, the XLU gained 2.86 points, or 4.18%, and closed at 71.27 on Friday, May 10, 2024. XLU was trading at average weekly trading volume.
 Long-term trend: [See XLU long-term trend chart]
A long-term downtrend had started on September 12, 2022 at 78.20 and reached 54.77 on October 6, 2023. XLU lost 23.43 points, or 29.96%, in 55 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (51.39) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XLU may retest the broken resistance line. It is considered to be a support line now. 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 XLU medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 54.77 and reached 71.85 on May 10, 2024. XLU gained -17.08 points, or -31.18%, in 31 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (63.22) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.
 Weekly Technical Indicators: [See XLU weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See XLU short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 62.55 and reached 71.85 on May 10, 2024. XLU gained -9.30 points, or -14.87%, in 24 days. The price is now at the 6.24% retracement level.
 Daily Technical Indicators: [See XLU daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 22, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
| |
|
|