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Downtrend ResistanceArchive
- 4/19/2024 -
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Utilities Select Sector SPDR (XLU) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Utilities Select Sector SPDR (XLU). During the week, the XLU gained 1.23 points, or 1.92%, and closed at 65.43 on Friday, April 19, 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 (51.73) is broken. A broken support is considered to be a long-term bullish signal. 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 February 13, 2024 at 59.14 and reached 66.08 on April 9, 2024. XLU gained -6.94 points, or -11.73%, in 8 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (66.16) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See XLU weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic 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. Use the following link to access a MACD help.
 Short-term trend: [See XLU short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 66.08 and reached 62.55 on April 16, 2024. XLU lost 3.53 points, or 5.34%, in 7 days. The price is now at the 81.59% retracement level.
 Daily Technical Indicators: [See XLU daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.
During the last week, the price has moved above 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.
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