The Greedy Trader Weekly Analysis
Sign In May 24, 2024
Skip Navigation Links
Share
Number of records: 6
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Select Sector SPDR ETFs Technical Analysis - XLF

Archive
- 5/17/2024 -
Sign In to see current Signals.

Financial Select Sector SPDR (XLF) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Williams' Percentage Range is strongly overboughtRelative Strength Index and Lane's Stochastic bearish divergenceBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overbought20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second consecutive positive week for the Financial Select Sector SPDR (XLF). During the week, the XLF gained 0.66 points, or 1.58%, and closed at 42.49 on Friday, May 17, 2024. Weekly volume was -24% below average.

Long-term trend: [See XLF long-term trend chart]
A long-term downtrend had started on January 13, 2022 at 41.70 and reached 29.59 on October 13, 2022. XLF lost 12.11 points, or 29.04%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.47) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XLF may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See XLF medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 29.59 and reached 42.49 on May 17, 2024. XLF gained -12.90 points, or -43.60%, in 83 weeks. The chart has formed a Symmetric Triangle chart pattern. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See XLF weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 19, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See XLF short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 39.53 and reached 42.49 on May 17, 2024. XLF gained -2.96 points, or -7.49%, in 31 days. Price is near the trend high.

Daily Technical Indicators: [See XLF daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since May 3, 2024. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 80.14
Overbought
Williams' Percentage Range (W%R) 10.30
Overbought
Lane's Stochastic (%D-Slow) 91.57
Strong Overbought
Greed/Fear Indicator (GFI) 87.12
Overbought
Moving Average Converg./Diverg. (MACD) 0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.13
Bearish
Williams' Percentage Range (W%R) 4.30
Strong Overbought
Lane's Stochastic (%D-Slow) 57.49
Bearish
Greed/Fear Indicator (GFI) 70.77
Moving Average Converg./Diverg. (MACD) 1.53
Trading Signals
Description Value Chart
Monthly Trendline Resistance 43.06
Upper Bollinger Band 42.65
Price 42.49
Daily Stochastic Crossing 42.41
Parabolic System 41.72
Weekly Stochastic Crossing 41.40
20 Day Moving Average 41.24
Monthly Trendline Support 41.11
50 Day Moving Average 41.11
Lower Bollinger Band 40.15
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 39.53
Low Date 04/16/2024
High 42.49
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.22
Low Date 03/28/2023
High 42.49
High Date 05/17/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 43.06
Support 41.11
Low 30.39
Low Date 03/24/2023
High 42.49
High Date 05/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status
Resistance
Support
Low 29.59
Low Date 10/13/2022
High 42.49
High Date 05/17/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 31.59
Support 32.47
High 41.70
High Date 01/13/2022
Low 29.59
Low Date 10/13/2022
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.