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Archive - 3/15/2024 - Sign In to see current Signals. |
Financial Select Sector SPDR (XLF) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a ninth consecutive positive week for the Financial Select Sector SPDR (XLF). During the week, the XLF climbed 0.19 points, or 0.47%, and closed at 40.81 on Friday, March 15, 2024. Weekly volume was 14% above average. Long-term trend: [See XLF long-term trend chart] A long-term downtrend had started on January 13, 2022 at 41.70 and reached 29.59 on October 13, 2022. XLF lost 12.11 points, or 29.04%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.16) 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 long-term trend. Medium-term trend: [See XLF medium-term trend chart] A medium-term uptrend had started on October 13, 2022 at 29.59 and reached 41.25 on March 14, 2024. XLF gained -11.66 points, or -39.41%, in 74 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (32.00) 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 medium-term trend. Weekly Technical Indicators: [See XLF weekly technical indicators chart] Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly 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 weekly 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. The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See XLF short-term trend chart] A short-term uptrend had started on January 18, 2024 at 36.95 and reached 41.25 on March 14, 2024. XLF gained -4.30 points, or -11.64%, in 56 days. The price is now at the 10.23% retracement level. Daily Technical Indicators: [See XLF daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 14, 2024. The distance between MACD and the signal line is low, but getting bigger. 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.
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