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ETFs Technical Analysis - SHY

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- 5/17/2024 -
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iShares Lehman 1-3 Year Treasury Bond (SHY) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtA Parabolic SAR indicator is above and near the pricePrice has crossed above the 50 Day Moving AverageThe price touches the upper Bollinger Band
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It was a first positive week for the iShares Lehman 1-3 Year Treasury Bond (SHY). During the week, the SHY climbed 0.14 points, or 0.17%, and closed at 81.42 on Friday, May 17, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -44% below average.

Long-term trend: [See SHY long-term trend chart]
A long-term downtrend had started on April 30, 2020 at 86.80 and reached 80.48 on March 8, 2023. SHY lost 6.32 points, or 7.28%, in 148 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (80.74) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SHY may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See SHY medium-term trend chart]
A medium-term uptrend had started on July 6, 2023 at 80.55 and reached 82.39 on January 31, 2024. SHY gained -1.84 points, or -2.28%, in 29 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.92 and resistance is at 82.93. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See SHY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 1, 2024. Use the following link to access a MACD help.

Short-term trend: [See SHY short-term trend chart]
A short-term uptrend had started on May 6, 2024 at 81.27 and reached 81.53 on May 15, 2024. SHY gained -0.26 points, or -0.32%, in 9 days. The price is now at the 42.31% retracement level.

Daily Technical Indicators: [See SHY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

A Parabolic SAR (stop and reversal) indicator (81.28) comes close to the price (81.42). It indicates that the trend is getting weaker. 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.

The price touches the upper Bollinger Band. 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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.59
Williams' Percentage Range (W%R) 11.30
Overbought
Lane's Stochastic (%D-Slow) 82.21
Overbought
Greed/Fear Indicator (GFI) 76.50
Moving Average Converg./Diverg. (MACD) -0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.23
Williams' Percentage Range (W%R) 62.80
Lane's Stochastic (%D-Slow) 31.08
Greed/Fear Indicator (GFI) 38.59
Moving Average Converg./Diverg. (MACD) 0.01
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 82.93
Upper Bollinger Band 81.55
Daily Stochastic Crossing 81.49
Price 81.42
50 Day Moving Average 81.40
Parabolic System 81.28
20 Day Moving Average 81.28
Weekly Stochastic Crossing 81.24
Yearly Trendline Resistance 81.13
Lower Bollinger Band 81.11
Monthly Trendline Resistance 80.95
Quarterly Trendline Support 80.92
Yearly Trendline Support 80.74
Monthly Trendline Support 80.71
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 81.27
Low Date 05/06/2024
High 81.53
High Date 05/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 80.91
Low Date 05/01/2024
High 81.53
High Date 05/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 80.95
Support 80.71
High 82.39
High Date 01/31/2024
Low 80.91
Low Date 05/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 82.93
Support 80.92
Low 80.55
Low Date 07/06/2023
High 82.39
High Date 01/31/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 81.13
Support 80.74
High 86.80
High Date 04/30/2020
Low 80.48
Low Date 03/08/2023
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.