Select Sector SPDR ETFs Technical AnalysisArchive
- 11/20/2020 -
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Materials Select Sector SPDR (XLB)
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|It was a third positive week after 3 consecutive negative weeks for the Materials Select Sector SPDR (XLB). During the week, the XLB gained 0.75 points, or 1.09%, and closed at 69.76 on Friday, November 20, 2020. Weekly volume was -35% 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 72.41 on November 9, 2020. XLB gained -54.58 points, or -306.11%, in 609 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (70.99). 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 March 16, 2020 at 37.69 and reached 72.41 on November 9, 2020. XLB gained -34.72 points, or -92.12%, in 34 weeks. The price is now at the 7.63% retracement level.
Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 15, 2020. 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 uptrend had started on October 29, 2020 at 61.54 and reached 72.41 on November 9, 2020. XLB gained -10.87 points, or -17.66%, in 11 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (70.92) 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 short-term trend.
Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 4, 2020. This is an indication that the short-term trend is up.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.