The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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SPDR Homebuilders
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Summary:
Weekly :
Daily :Lane's Stochastic is strongly overboughtBroken trend resistance lineThe price is above the upper Bollinger BandPrice has crossed above the 50 Day Moving Average
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It was a first positive week for the SPDR Homebuilders (XHB). During the week, the XHB gained 1.96 points, or 4.98%, and closed at 41.33 on Friday, June 08, 2018. Weekly volume was 137% above average.

Long-term trend: [See XHB long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 8.00 and reached 47.20 on January 24, 2018. XHB gained -39.20 points, or -490%, in 463 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 35.97 and resistance is at 49.38. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See XHB medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 27.72 and reached 47.20 on January 24, 2018. XHB gained -19.48 points, or -70.27%, in 101 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 37.84 and resistance is at 49.97. 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 medium-term trend.

Weekly Technical Indicators: [See XHB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 2, 2018. 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 May 16, 2018 at 38.57 and reached 41.38 on June 8, 2018. XHB gained -2.81 points, or -7.29%, in 23 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (39.51) 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 XHB daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 daily MACD line is above its signal line since May 4, 2018. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.48
Williams' Percentage Range (W%R) 31.30
Lane's Stochastic (%D-Slow) 91.53
Strong Overbought
Greed/Fear Indicator (GFI) 76.23
Moving Average Converg./Diverg. (MACD) 0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.53
Williams' Percentage Range (W%R) 77.60
Lane's Stochastic (%D-Slow) 31.31
Greed/Fear Indicator (GFI) 34.32
Moving Average Converg./Diverg. (MACD) -0.27
Trading Signals
Description Value Chart
Yearly Trendline Resistance 49.38
Price 41.33
Daily Stochastic Crossing 41.29
Upper Bollinger Band 41.06
Weekly Trendline Resistance 40.30
50 Day Moving Average 39.88
Parabolic System 39.78
20 Day Moving Average 39.72
Weekly Trendline Support 39.51
Weekly Stochastic Crossing 39.50
Lower Bollinger Band 38.79
Quarterly Trendline Support 37.84
Yearly Trendline Support 35.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 39.20
Low Date 06/01/2018
High 41.38
High Date 06/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 40.30
Support 39.51
Low 38.57
Low Date 05/16/2018
High 41.38
High Date 06/08/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 47.20
High Date 01/24/2018
Low 38.57
Low Date 05/16/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 49.97
Support 37.84
Low 27.72
Low Date 02/11/2016
High 47.20
High Date 01/24/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 49.38
Support 35.97
Low 8.00
Low Date 03/09/2009
High 47.20
High Date 01/24/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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