Select Sector SPDR ETFs Technical AnalysisArchive
- 5/22/2020 -
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Industrial Select Sector SPDR (XLI)
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|It was a first positive week for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 4.38 points, or 7.37%, and closed at 63.84 on Friday, May 22, 2020. Weekly volume was -30% below average. |
Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 85.33 on February 12, 2020. XLI gained -70.19 points, or -463.61%, in 570 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (66.92) 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 long-term trend.
Medium-term trend: [See XLI medium-term trend chart]
A medium-term downtrend had started on February 12, 2020 at 85.33 and reached 47.71 on March 23, 2020. XLI lost 37.62 points, or 44.09%, in 5 weeks. The price is now at the 42.88% retracement level.
Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 21, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See XLI short-term trend chart]
A short-term downtrend had started on April 29, 2020 at 66.22 and reached 56.97 on May 14, 2020. XLI lost 9.25 points, or 13.97%, in 15 days. The chart has formed a Falling Channel chart pattern.
Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. 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, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.