The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Materials Select Sector SPDR
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance line
Daily :Price has crossed below the 50 Day Moving AverageWilliams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -1.53 points, or -2.70%, and closed at 55.14 on Friday, May 10, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was 21% above 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 49.33 and resistance is at 64.01. 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 downtrend had started on January 26, 2018 at 64.17 and reached 47.05 on December 26, 2018. XLB lost 17.12 points, or 26.68%, in 47 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (44.97) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 weekly MACD line is above its signal line since January 25, 2019. 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 April 17, 2019 at 58.50 and reached 53.78 on May 9, 2019. XLB lost 4.72 points, or 8.07%, in 22 days. The price is now at the 28.81% retracement level.

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 April 18, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 34.34
Williams' Percentage Range (W%R) 89.00
Oversold
Lane's Stochastic (%D-Slow) 18.50
Oversold
Greed/Fear Indicator (GFI) 21.29
Moving Average Converg./Diverg. (MACD) -0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.06
Williams' Percentage Range (W%R) 36.70
Lane's Stochastic (%D-Slow) 67.94
Greed/Fear Indicator (GFI) 61.20
Moving Average Converg./Diverg. (MACD) 0.05
Trading Signals
Description Value Chart
Yearly Trendline Resistance 64.01
Monthly Trendline Support 60.72
Monthly Trendline Resistance 59.53
Upper Bollinger Band 58.46
20 Day Moving Average 56.72
Weekly Stochastic Crossing 56.70
Parabolic System 56.37
50 Day Moving Average 56.17
Price 55.14
Daily Stochastic Crossing 54.44
Lower Bollinger Band 53.90
Quarterly Trendline Resistance 52.00
Yearly Trendline Support 49.33
Quarterly Trendline Support 44.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 53.78
Low Date 05/09/2019
High 55.33
High Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 58.50
High Date 04/17/2019
Low 53.78
Low Date 05/09/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 59.53
Support 60.72
Low 47.05
Low Date 12/26/2018
High 58.50
High Date 04/17/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 52.00
Support 44.97
High 64.17
High Date 01/26/2018
Low 47.05
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 64.01
Support 49.33
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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