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Metal & Glass Containers Industry Stocks Technical Analysis - LYBArchive - 3/15/2024 - Sign In to see current Signals. |
LyondellBasell (LYB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the LyondellBasell (LYB). During the week, the LYB climbed 0.97 points, or 0.98%, and closed at 99.91 on Friday, March 15, 2024. Weekly volume was 38% above average. LYB is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See LYB long-term trend chart] A long-term downtrend had started on June 3, 2021 at 118.02 and reached 71.46 on September 23, 2022. LYB lost 46.56 points, or 39.45%, in 68 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 48.29 and resistance is at 115.78. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend. Medium-term trend: [See LYB medium-term trend chart] A medium-term uptrend had started on September 23, 2022 at 71.46 and reached 102.93 on March 4, 2024. LYB gained -31.47 points, or -44.04%, in 75 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 94.95 and resistance is at 102.72. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend. Weekly Technical Indicators: [See LYB 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 February 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively 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 LYB short-term trend chart] A short-term uptrend had started on December 13, 2023 at 90.60 and reached 102.93 on March 4, 2024. LYB gained -12.33 points, or -13.61%, in 82 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (92.69) 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 short-term trend. Daily Technical Indicators: [See LYB daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 13, 2024. The distance between MACD and the signal line is low, but getting bigger.
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