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Archive
- 12/13/2024 -
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Materials Select Sector SPDR (XLB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Materials Select Sector SPDR (XLB). During the week, the XLB dropped -2.68 points, or -2.92%, and closed at 89.23 on Friday, December 13, 2024. XLB was trading at average weekly trading volume.
 Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 97.87 on October 18, 2024. XLB gained -80.04 points, or -448.91%, in 815 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (71.13) 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 XLB medium-term trend chart]
A medium-term uptrend had started on July 2, 2024 at 86.41 and reached 97.87 on October 18, 2024. XLB gained -11.46 points, or -13.26%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (91.68) 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. XLB 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 medium-term trend.
 Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 8, 2024. Use the following link to access a MACD help.
 Short-term trend: [See XLB short-term trend chart]
A short-term downtrend had started on November 25, 2024 at 95.20 and reached 88.93 on December 13, 2024. XLB lost 6.27 points, or 6.59%, in 18 days. Price is near the trend low.
 Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Williams' Percentage Range or strongly oversold daily 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 daily MACD line is below its signal line since December 5, 2024. This is an indication that the short-term trend is down.
The price touches the lower 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.
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