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Archive
- 11/15/2024 -
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LyondellBasell (LYB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the LyondellBasell (LYB). During the week, the LYB dropped -2.77 points, or -3.25%, and closed at 82.53 on Friday, November 15, 2024. Weekly volume was -7% below average.
 Long-term trend: [See LYB long-term trend chart]
A long-term uptrend had started on September 23, 2022 at 71.46 and reached 107.02 on May 8, 2024. LYB gained -35.56 points, or -49.76%, in 84 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (105.33) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LYB may retest the broken support line. It is considered to be a resistance line now. 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 LYB medium-term trend chart]
A medium-term downtrend had started on May 8, 2024 at 107.02 and reached 82.20 on November 14, 2024. LYB lost 24.82 points, or 23.19%, in 27 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend support line (90.40) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 LYB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and 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 weekly MACD line is below its signal line since May 17, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See LYB short-term trend chart]
A short-term downtrend had started on August 26, 2024 at 99.36 and reached 82.20 on November 14, 2024. LYB lost 17.16 points, or 17.27%, in 80 days. Price is near the trend low.
 Daily Technical Indicators: [See LYB daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since October 8, 2024. This is an indication that the short-term trend is down.
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.
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