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Archive
- 4/5/2024 -
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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 -3.00 points, or -2.69%, and closed at 108.59 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -13% below average.
 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 (80.11) 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 uptrend had started on October 25, 2023 at 69.32 and reached 111.96 on March 28, 2024. XHB gained -42.64 points, or -61.51%, in 22 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (114.04) 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 XHB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range 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. Use the following link to access a MACD help.
 Short-term trend: [See XHB short-term trend chart]
A short-term uptrend had started on January 5, 2024 at 90.96 and reached 111.96 on March 28, 2024. XHB gained -21.00 points, or -23.09%, in 83 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 99.79 and resistance is at 113.50. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily technical indicators are neutral. 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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