Select Sector SPDR ETFs Technical AnalysisArchive
- 3/17/2023 -
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Industrial Select Sector SPDR (XLI)
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|It was the negative week for the Industrial Select Sector SPDR (XLI). During the week, the XLI dropped -2.33 points, or -2.35%, and closed at 96.67 on Friday, March 17, 2023. Weekly volume was 149% above 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 107.88 on January 5, 2022. XLI gained -92.74 points, or -612.55%, in 669 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 82.93 and resistance is at 98.28. 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 downtrend had started on January 5, 2022 at 107.88 and reached 82.75 on September 30, 2022. XLI lost 25.13 points, or 23.29%, in 38 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (79.55) 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 medium-term trend.
Weekly Technical Indicators: [See XLI 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 XLI short-term trend chart]
A short-term downtrend had started on March 6, 2023 at 104.18 and reached 95.50 on March 15, 2023. XLI lost 8.68 points, or 8.33%, in 9 days. The price is now at the 13.48% retracement level.
Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 8, 2023. This is an indication that the short-term trend is down.
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.