The Greedy Trader Weekly Analysis
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Select Sector SPDR ETFs Technical Analysis

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- 3/17/2023 -
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SPDR Homebuilders (XHB)

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Summary:
Weekly :Broken trend resistance line
Daily :Broken trend support line20 Day Moving Average has crossed below the 50 Day Moving Average
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It was the negative week for the SPDR Homebuilders (XHB). During the week, the XHB gave back -0.54 points, or -0.82%, and closed at 64.93 on Friday, March 17, 2023. Weekly volume was 88% above average.

Long-term trend: [See XHB long-term trend chart]
A long-term downtrend had started on December 9, 2021 at 86.61 and reached 51.23 on June 17, 2022. XHB lost 35.38 points, or 40.85%, in 27 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (55.03) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See XHB medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 51.23 and reached 72.98 on February 2, 2023. XHB gained -21.75 points, or -42.46%, in 32 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 55.03 and resistance is at 74.24. 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 XHB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 28, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend 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 October 21, 2022 at 53.00 and reached 72.98 on February 2, 2023. XHB gained -19.98 points, or -37.70%, in 104 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (67.00) 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 short-term trend.

Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 9, 2023.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 40.80
Williams' Percentage Range (W%R) 64.90
Lane's Stochastic (%D-Slow) 26.87
Greed/Fear Indicator (GFI) 34.25
Moving Average Converg./Diverg. (MACD) -0.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.70
Williams' Percentage Range (W%R) 38.40
Lane's Stochastic (%D-Slow) 54.71
Greed/Fear Indicator (GFI) 56.90
Moving Average Converg./Diverg. (MACD) 1.31
Trading Signals
Description Value Chart
Monthly Trendline Resistance 74.24
Upper Bollinger Band 69.09
Weekly Stochastic Crossing 67.88
50 Day Moving Average 67.19
Weekly Trendline Support 67.00
20 Day Moving Average 66.86
Parabolic System 66.34
Daily Stochastic Crossing 65.24
Price 64.93
Lower Bollinger Band 64.41
Monthly Trendline Support 55.03
Quarterly Trendline Support 55.03
Quarterly Trendline Resistance 52.11
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 72.98
High Date 02/02/2023
Low 63.79
Low Date 03/15/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 79.51
Support 67.00
Low 53.00
Low Date 10/21/2022
High 72.98
High Date 02/02/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 74.24
Support 55.03
Low 51.23
Low Date 06/17/2022
High 72.98
High Date 02/02/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 52.11
Support 55.03
High 86.61
High Date 12/09/2021
Low 51.23
Low Date 06/17/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.00
Low Date 03/09/2009
High 86.61
High Date 12/09/2021
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.

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