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Materials Select Sector SPDR
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|It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -0.81 points, or -1.51%, and closed at 52.70 on Friday, February 8, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -37% below average. |
Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 64.17 on January 26, 2018. XLB gained -46.34 points, or -259.90%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 48.58 and resistance is at 63.26. 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 XLB medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 47.05 and reached 54.59 on January 30, 2019. XLB gained -7.54 points, or -16.03%, in 5 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (54.02) 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 XLB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 25, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See XLB short-term trend chart]
A short-term downtrend had started on January 30, 2019 at 54.59 and reached 52.03 on February 8, 2019. XLB lost 2.56 points, or 4.69%, in 9 days. The price is now at the 26.17% retracement level.
Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily technical indicators are neutral.
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 declined below 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.