The Greedy Trader Weekly Analysis
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Archive
- 11/10/2017
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Materials Select Sector SPDR
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Summary:
Weekly :Lane's Stochastic is overboughtTrend resistance at 59.02
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldBroken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -0.71 points, or -1.21%, and closed at 58.11 on Friday, November 10, 2017. It was the worst weekly loss since August 11, 2017. Weekly volume was -21% 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 59.62 on October 26, 2017. XLB gained -41.79 points, or -234.38%, in 450 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (59.02). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.

Medium-term trend: [See XLB medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 36.29 and reached 59.62 on October 26, 2017. XLB gained -23.33 points, or -64.29%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 53.72 and resistance is at 59.55. 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 medium-term trend.

Weekly Technical Indicators: [See XLB 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 September 15, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See XLB short-term trend chart]
A short-term uptrend had started on August 11, 2017 at 53.41 and reached 59.62 on October 26, 2017. XLB gained -6.21 points, or -11.63%, in 76 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (59.30) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. XLB may retest the broken support line. It is considered to be a resistance line now. 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 short-term trend.

Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since October 27, 2017. The distance between MACD and the signal line is relatively high and getting bigger.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.30
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 14.98
Oversold
Greed/Fear Indicator (GFI) 24.81
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.63
Williams' Percentage Range (W%R) 25.80
Lane's Stochastic (%D-Slow) 89.20
Overbought
Greed/Fear Indicator (GFI) 76.38
Moving Average Converg./Diverg. (MACD) 1.32
Trading Signals
Description Value Chart
Weekly Trendline Resistance 60.49
Quarterly Trendline Resistance 59.55
Weekly Trendline Support 59.30
Upper Bollinger Band 59.22
Weekly Stochastic Crossing 59.16
Yearly Trendline Resistance 59.02
Parabolic System 58.80
20 Day Moving Average 58.67
Daily Stochastic Crossing 58.21
Price 58.11
Monthly Trendline Resistance 57.95
Lower Bollinger Band 57.67
50 Day Moving Average 57.48
Monthly Trendline Support 55.22
Quarterly Trendline Support 53.72
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 59.62
High Date 10/26/2017
Low 57.99
Low Date 11/10/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 60.49
Support 59.30
Low 53.41
Low Date 08/11/2017
High 59.62
High Date 10/26/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 57.95
Support 55.22
Low 45.56
Low Date 10/13/2016
High 59.62
High Date 10/26/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 59.55
Support 53.72
Low 36.29
Low Date 01/20/2016
High 59.62
High Date 10/26/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 59.02
Support 42.66
Low 17.83
Low Date 03/06/2009
High 59.62
High Date 10/26/2017
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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