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Archive
- 4/26/2024 -
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SPDR Retail (XRT) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the SPDR Retail (XRT). During the week, the XRT gained 2.05 points, or 2.88%, and closed at 73.22 on Friday, April 26, 2024. XRT was trading at average weekly trading volume.
 Long-term trend: [See XRT long-term trend chart]
A long-term uptrend had started on June 1, 2023 at 56.20 and reached 79.12 on April 1, 2024. XRT gained -22.92 points, or -40.78%, in 43 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 59.50 and resistance is at 80.39. 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 long-term trend.
 Medium-term trend: [See XRT medium-term trend chart]
A medium-term downtrend had started on April 1, 2024 at 79.12 and reached 70.22 on April 16, 2024. XRT lost 8.90 points, or 11.25%, in 2 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (66.17) 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 XRT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See XRT short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 70.22 and reached 73.50 on April 26, 2024. XRT gained -3.28 points, or -4.67%, in 10 days. The price is now at the 8.54% retracement level.
Daily Technical Indicators: [See XRT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 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 moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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