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Select Sector SPDR ETFs Technical AnalysisArchive
- 3/17/2023 -
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SPDR Homebuilders (XHB) |
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| Summary:
| | Weekly : | | Daily :
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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.
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