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Archive
- 12/13/2024 -
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Consumer Discretionary Select Sector SPDR (XLY) Technical Analysis
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| Summary:
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| | It was a fourth consecutive positive week for the Consumer Discretionary Select Sector SPDR (XLY). During the week, the XLY gained 2.70 points, or 1.16%, and closed at 235.50 on Friday, December 13, 2024. Weekly volume was -20% below average.
 Long-term trend: [See XLY long-term trend chart]
A long-term uptrend had started on December 28, 2022 at 126.00 and reached 236.70 on December 12, 2024. XLY gained -110.70 points, or -87.86%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (166.56) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 XLY medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 166.48 and reached 236.70 on December 12, 2024. XLY gained -70.22 points, or -42.18%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (236.35). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See XLY weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 6, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See XLY short-term trend chart]
A short-term uptrend had started on October 23, 2024 at 193.05 and reached 236.70 on December 12, 2024. XLY gained -43.65 points, or -22.61%, in 50 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 229.73 and resistance is at 260.24. 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 short-term trend.
 Daily Technical Indicators: [See XLY daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since November 4, 2024. This is an indication that the short-term trend is up.
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