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|It was a first positive week for the SPDR Homebuilders (XHB). During the week, the XHB climbed 0.32 points, or 0.82%, and closed at 39.49 on Friday, August 03, 2018. XHB was trading at average weekly trading volume. |
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 36.52 and resistance is at 49.93. 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 price is near the trend support (38.51) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See XHB weekly technical indicators chart]
Weekly technical indicators are neutral.
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 uptrend had started on May 16, 2018 at 38.57 and reached 41.90 on June 12, 2018. XHB gained -3.33 points, or -8.63%, in 27 days. The chart has formed a Rectangle chart pattern. The trend support level is at 38.42 and resistance is at 41.96. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle 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 rallied above the oversold signal line (%D). Such crossover is considered a bullish 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.
The daily MACD line is below its signal line since July 23, 2018. The distance between MACD and the signal line is low and getting smaller.