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Uptrend SupportArchive
- 4/5/2024 -
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Materials Select Sector SPDR (XLB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB gave back -0.12 points, or -0.13%, and closed at 92.77 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -15% below average.
 Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 66.85 and reached 93.72 on April 4, 2024. XLB gained -26.87 points, or -40.19%, in 79 weeks. Price is near the trend high.
Medium-term trend: [See XLB medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 74.33 and reached 93.72 on April 4, 2024. XLB gained -19.39 points, or -26.09%, in 23 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly 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. 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 March 25, 2024 at 91.24 and reached 93.72 on April 4, 2024. XLB gained -2.48 points, or -2.72%, in 10 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See XLB 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.
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