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Downtrend ExhaustionArchive
- 12/13/2024 -
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LyondellBasell (LYB) Technical Analysis
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| Summary:
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| | It was the negative week for the LyondellBasell (LYB). During the week, the LYB gave back -0.72 points, or -0.94%, and closed at 75.67 on Friday, December 13, 2024. Weekly volume was 57% above average.
LYB is a member of Materials Sector. Materials is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 (106.49) 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 74.92 on December 13, 2024. LYB lost 32.10 points, or 29.99%, in 31 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend support line (90.13) 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 Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly 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, Relative Strength Index 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 74.92 on December 13, 2024. LYB lost 24.44 points, or 24.60%, in 109 days. Price is near the trend low.
 Daily Technical Indicators: [See LYB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily 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.
The daily MACD line is below its signal line since December 3, 2024. This is an indication that the short-term trend is down.
The distance between the Bollinger Bands (15.59%) is close to one year high (13.49%). It is 132.36% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.
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