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Financial Select Sector SPDR
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|It was the negative week for the Financial Select Sector SPDR (XLF). During the week, the XLF dropped -1.87 points, or -6.93%, and closed at 25.11 on Friday, December 07, 2018. Weekly volume was 67% above average. |
Long-term trend: [See XLF long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 5.88 and reached 30.33 on January 29, 2018. XLF gained -24.45 points, or -415.82%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (24.72) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.
Medium-term trend: [See XLF medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 18.52 and reached 30.33 on January 29, 2018. XLF gained -11.81 points, or -63.77%, in 127 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 19.78 and resistance is at 32.41. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See XLF weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 below its signal line since October 5, 2018. Use the following link to access a MACD help.
Short-term trend: [See XLF short-term trend chart]
A short-term downtrend had started on November 8, 2018 at 27.52 and reached 24.93 on December 6, 2018. XLF lost 2.59 points, or 9.41%, in 28 days. The price is now at the 6.95% retracement level.
Daily Technical Indicators: [See XLF daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
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.