The Greedy Trader Weekly Analysis
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Select Sector SPDR ETFs Technical Analysis - XHB

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- 5/17/2024 -
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SPDR Homebuilders (XHB) Technical Analysis

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Summary:
Weekly :Broken trend resistance linePrice is near the Fibonacci 61.8% retracement level
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the SPDR Homebuilders (XHB). During the week, the XHB gave back -0.34 points, or -0.32%, and closed at 107.17 on Friday, May 17, 2024. Weekly volume was -29% below average.

Long-term trend: [See XHB long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 51.23 and reached 111.96 on March 28, 2024. XHB gained -60.73 points, or -118.54%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (82.27) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See XHB medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 111.96 and reached 99.58 on April 19, 2024. XHB lost 12.38 points, or 11.06%, in 3 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is below its signal line since April 12, 2024. 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 April 19, 2024 at 99.58 and reached 110.09 on May 15, 2024. XHB gained -10.51 points, or -10.55%, in 26 days. The price is now at the 27.78% retracement level.

Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.39
Williams' Percentage Range (W%R) 29.10
Lane's Stochastic (%D-Slow) 69.09
Greed/Fear Indicator (GFI) 65.79
Moving Average Converg./Diverg. (MACD) 0.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.73
Williams' Percentage Range (W%R) 23.10
Lane's Stochastic (%D-Slow) 43.32
Greed/Fear Indicator (GFI) 58.34
Moving Average Converg./Diverg. (MACD) 6.11
Trading Signals
Description Value Chart
Upper Bollinger Band 110.58
Parabolic System 110.20
Daily Stochastic Crossing 108.40
Price 107.17
50 Day Moving Average 105.89
Weekly Stochastic Crossing 105.35
20 Day Moving Average 105.14
Lower Bollinger Band 101.32
Quarterly Trendline Resistance 99.86
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 99.58
Low Date 04/19/2024
High 110.09
High Date 05/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 111.96
High Date 03/28/2024
Low 99.58
Low Date 04/19/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.32
Low Date 10/25/2023
High 111.96
High Date 03/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 99.86
Support 82.27
Low 51.23
Low Date 06/17/2022
High 111.96
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.00
Low Date 03/09/2009
High 111.96
High Date 03/28/2024
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.