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Archive
- 11/22/2024 -
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Utilities Select Sector SPDR (XLU) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Utilities Select Sector SPDR (XLU). During the week, the XLU gained 2.20 points, or 2.78%, and closed at 81.45 on Friday, November 22, 2024. Weekly volume was -41% below average.
 Long-term trend: [See XLU long-term trend chart]
A long-term downtrend had started on September 12, 2022 at 78.20 and reached 54.77 on October 6, 2023. XLU lost 23.43 points, or 29.96%, in 55 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (48.31) 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. XLU 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 XLU medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 54.77 and reached 82.50 on October 17, 2024. XLU gained -27.73 points, or -50.63%, in 53 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 74.69 and resistance is at 83.64. 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 medium-term trend.
 Weekly Technical Indicators: [See XLU 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. 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 1, 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 XLU short-term trend chart]
A short-term uptrend had started on November 4, 2024 at 76.78 and reached 82.27 on November 22, 2024. XLU gained -5.49 points, or -7.15%, in 18 days. The price is now at the 14.94% retracement level.
 Daily Technical Indicators: [See XLU daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price 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.
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