The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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Materials Select Sector SPDR
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Summary:
Weekly :Broken trend support lineTrend resistance at 60.56
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance lineDaily  MACD line has moved above its signal lineThe price touches the upper Bollinger Band
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It was a second consecutive positive week for the Materials Select Sector SPDR (XLB). During the week, the XLB gained 1.76 points, or 2.98%, and closed at 60.83 on Friday, June 08, 2018. It was the best weekly gain since March 9, 2018. XLB was trading at average weekly trading volume.

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 price is near the trend resistance line (60.56). 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 64.17 on January 26, 2018. XLB gained -27.88 points, or -76.83%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (63.49) 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 below its signal line since February 2, 2018. The distance between MACD and the signal line is low and getting smaller. 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 April 2, 2018 at 55.21 and reached 61.05 on June 7, 2018. XLB gained -5.84 points, or -10.58%, in 66 days. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (58.19) 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 XLB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price touches the upper Bollinger Band. 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) 56.98
Bearish
Williams' Percentage Range (W%R) 13.80
Overbought
Lane's Stochastic (%D-Slow) 86.85
Overbought Bearish
Greed/Fear Indicator (GFI) 76.66
Moving Average Converg./Diverg. (MACD) 0.34 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.35
Williams' Percentage Range (W%R) 39.80
Lane's Stochastic (%D-Slow) 71.50
Greed/Fear Indicator (GFI) 60.88
Moving Average Converg./Diverg. (MACD) 0.21
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 70.67
Quarterly Trendline Support 63.49
Upper Bollinger Band 60.97
Daily Stochastic Crossing 60.84
Price 60.83
Yearly Trendline Resistance 60.56
Weekly Trendline Resistance 60.42
Weekly Stochastic Crossing 60.00
20 Day Moving Average 59.48
Parabolic System 59.11
50 Day Moving Average 58.47
Weekly Trendline Support 58.19
Lower Bollinger Band 57.85
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 57.80
Low Date 05/29/2018
High 61.05
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 60.42
Support 58.19
Low 55.21
Low Date 04/02/2018
High 61.05
High Date 06/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.17
High Date 01/26/2018
Low 55.21
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 70.67
Support 63.49
Low 36.29
Low Date 01/20/2016
High 64.17
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 60.56
Support 44.21
Low 17.83
Low Date 03/06/2009
High 64.17
High Date 01/26/2018
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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