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Select Sector SPDR ETFs Technical Analysis - XLIArchive
- 9/22/2023 -
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Industrial Select Sector SPDR (XLI) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the Industrial Select Sector SPDR (XLI). During the week, the XLI dropped -3.21 points, or -3.06%, and closed at 101.79 on Friday, September 22, 2023. It was the worst weekly loss since April 6, 2023. Weekly volume was -20% below average.
 Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 111.12 on August 1, 2023. XLI gained -95.98 points, or -633.95%, in 751 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 88.74 and resistance is at 103.39. 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 XLI medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 95.19 and reached 111.12 on August 1, 2023. XLI gained -15.93 points, or -16.73%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 98.83 and resistance is at 115.34. 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 XLI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 1, 2023. Use the following link to access a MACD help.
 Short-term trend: [See XLI short-term trend chart]
A short-term downtrend had started on August 31, 2023 at 109.15 and reached 101.74 on September 22, 2023. XLI lost 7.41 points, or 6.79%, in 22 days. Price is near the trend low.
 Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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 September 5, 2023. This is an indication that the short-term trend is down.
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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 |
109.15 |
| High Date |
08/31/2023 |
| Low |
101.74 |
| Low Date |
09/22/2023 |
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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 |
111.12 |
| High Date |
08/01/2023 |
| Low |
101.74 |
| Low Date |
09/22/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
115.34 |
| Support |
98.83 |
| Low |
95.19 |
| Low Date |
03/24/2023 |
| High |
111.12 |
| High Date |
08/01/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
82.75 |
| Low Date |
09/30/2022 |
| High |
111.12 |
| High Date |
08/01/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Valid |
| Resistance |
103.39 |
| Support |
88.74 |
| Low |
15.14 |
| Low Date |
03/06/2009 |
| High |
111.12 |
| High Date |
08/01/2023 |
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