The Greedy Trader Weekly Analysis
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Archive
- 2/9/2018
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Materials Select Sector SPDR
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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineTrend resistance at 59.68
Daily :Williams' Percentage Range is oversoldBullish Harami CandlestickBroken trend support lineThe Bollinger Bands are historically far apart
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It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -2.04 points, or -3.37%, and closed at 58.42 on Friday, February 09, 2018. Weekly volume was 340% 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 price is near the trend resistance line (59.68). 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 trend support level is at 55.54 and resistance is at 61.38. 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 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.

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 XLB short-term trend chart]
A short-term uptrend had started on August 11, 2017 at 53.41 and reached 64.17 on January 26, 2018. XLB gained -10.76 points, or -20.15%, in 168 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (61.59) 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 is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since January 26, 2018. The distance between MACD and the signal line is near its high and getting bigger.

The distance between the Bollinger Bands (13.9%) is close to one year high (8.89%). It is 248.24% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

Candlestick pattern: [See XLB candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.24
Williams' Percentage Range (W%R) 81.10
Oversold
Lane's Stochastic (%D-Slow) 21.14
Greed/Fear Indicator (GFI) 23.77
Moving Average Converg./Diverg. (MACD) -0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.50
Williams' Percentage Range (W%R) 74.80
Lane's Stochastic (%D-Slow) 73.60
Greed/Fear Indicator (GFI) 49.60
Moving Average Converg./Diverg. (MACD) 1.81
Trading Signals
Description Value Chart
Upper Bollinger Band 65.06
Weekly Trendline Resistance 63.91
Monthly Trendline Resistance 62.21
20 Day Moving Average 61.90
Weekly Stochastic Crossing 61.77
Weekly Trendline Support 61.59
Quarterly Trendline Resistance 61.38
50 Day Moving Average 61.03
Parabolic System 60.70
Yearly Trendline Resistance 59.68
Price 58.42
Monthly Trendline Support 58.37
Daily Stochastic Crossing 58.35
Lower Bollinger Band 56.95
Quarterly Trendline Support 55.54
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 64.17
High Date 01/26/2018
Low 56.62
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 63.91
Support 61.59
Low 53.41
Low Date 08/11/2017
High 64.17
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 62.21
Support 58.37
Low 45.56
Low Date 10/13/2016
High 64.17
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 61.38
Support 55.54
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 59.68
Support 43.32
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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