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Uptrend Broken SupportArchive
- 4/19/2024 -
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SPDR Homebuilders (XHB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the SPDR Homebuilders (XHB). During the week, the XHB dropped -4.08 points, or -3.91%, and closed at 100.16 on Friday, April 19, 2024. XHB was trading at average weekly trading volume.
 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 (80.83) 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. Price is near the trend low.
 Weekly Technical Indicators: [See XHB 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See XHB short-term trend chart]
A short-term downtrend had started on April 8, 2024 at 109.31 and reached 99.58 on April 19, 2024. XHB lost 9.73 points, or 8.90%, in 11 days. The price is now at the 5.96% retracement level.
 Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price 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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