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|It was a third positive week after 3 consecutive negative weeks for the SPDR Homebuilders (XHB). During the week, the XHB gained 1.74 points, or 5.17%, and closed at 35.40 on Friday, January 11, 2019. It was the best weekly gain since November 2, 2018. Weekly volume was 54% above average. |
Long-term trend: [See XHB long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 8.00 and reached 47.20 on January 24, 2018. XHB gained -39.20 points, or -490%, in 463 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (38.17) 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 XHB medium-term trend chart]
A medium-term downtrend had started on January 24, 2018 at 47.20 and reached 30.56 on December 26, 2018. XHB lost 16.64 points, or 35.25%, in 48 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend support line (38.30) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a medium-term trend.
Weekly Technical Indicators: [See XHB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 21, 2018. 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 XHB short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 30.56 and reached 35.67 on January 9, 2019. XHB gained -5.11 points, or -16.72%, in 14 days. The price is now at the 5.28% retracement level.
Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily 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 daily Williams' Percentage Range or strongly overbought daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since December 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
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.