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Select Sector SPDR ETFs Technical AnalysisArchive
- 3/17/2023 -
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Materials Select Sector SPDR (XLB) |
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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 -2.67 points, or -3.42%, and closed at 75.51 on Friday, March 17, 2023. Weekly volume was 101% above average.
 Long-term trend: [See XLB long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 17.83 and reached 92.31 on January 5, 2022. XLB gained -74.48 points, or -417.72%, in 669 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 60.33 and resistance is at 78.01. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See XLB medium-term trend chart]
A medium-term downtrend had started on January 5, 2022 at 92.31 and reached 66.85 on September 27, 2022. XLB lost 25.46 points, or 27.58%, in 37 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 56.36 and resistance is at 88.94. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See XLB weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 March 3, 2023 at 84.64 and reached 74.77 on March 15, 2023. XLB lost 9.87 points, or 11.66%, in 12 days. The price is now at the 7.50% retracement level.
 Daily Technical Indicators: [See XLB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 below its signal line since March 8, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
84.64 |
| High Date |
03/03/2023 |
| Low |
74.77 |
| Low Date |
03/15/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
85.90 |
| High Date |
02/01/2023 |
| Low |
74.77 |
| Low Date |
03/15/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
87.35 |
| Support |
85.83 |
| Low |
66.85 |
| Low Date |
09/27/2022 |
| High |
85.90 |
| High Date |
02/01/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Valid |
| Resistance |
88.94 |
| Support |
56.36 |
| High |
92.31 |
| High Date |
01/05/2022 |
| Low |
66.85 |
| Low Date |
09/27/2022 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Valid |
| Resistance |
78.01 |
| Support |
60.33 |
| Low |
17.83 |
| Low Date |
03/06/2009 |
| High |
92.31 |
| High Date |
01/05/2022 |
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