The Greedy Trader Weekly Analysis
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Materials Select Sector SPDR (XLB)

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Summary:
Weekly :Williams' Percentage Range is overboughtMACD bearish divergenceTrend resistance at 70.99
Daily :Broken trend support lineThe price has fallen below the Parabolic SAR
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.52
Williams' Percentage Range (W%R) 24.00
Lane's Stochastic (%D-Slow) 60.05
Greed/Fear Indicator (GFI) 67.52
Moving Average Converg./Diverg. (MACD) 1.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.36
Williams' Percentage Range (W%R) 16.30
Overbought
Lane's Stochastic (%D-Slow) 69.30
Greed/Fear Indicator (GFI) 69.77
Moving Average Converg./Diverg. (MACD) 2.55 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 73.42
Yearly Trendline Resistance 70.99
Weekly Trendline Support 70.92
Weekly Trendline Resistance 70.01
Parabolic System 70.00
Price 69.76
Daily Stochastic Crossing 69.18
Weekly Stochastic Crossing 68.89
20 Day Moving Average 67.23
50 Day Moving Average 65.78
Lower Bollinger Band 62.46
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 70.54
High Date 11/18/2020
Low 68.80
Low Date 11/19/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 70.01
Support 70.92
Low 61.54
Low Date 10/29/2020
High 72.41
High Date 11/09/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.93
Low Date 09/24/2020
High 72.41
High Date 11/09/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.69
Low Date 03/16/2020
High 72.41
High Date 11/09/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 70.99
Support 53.31
Low 17.83
Low Date 03/06/2009
High 72.41
High Date 11/09/2020
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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