The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 5/31/2024 -
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SPDR Homebuilders (XHB) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :The price has risen above the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the SPDR Homebuilders (XHB). During the week, the XHB climbed 0.15 points, or 0.14%, and closed at 105.30 on Friday, May 31, 2024. Weekly volume was -28% below average.

Long-term trend: [See XHB long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 51.23 and reached 111.96 on March 28, 2024. XHB gained -60.73 points, or -118.54%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (82.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 XHB medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 69.32 and reached 111.96 on March 28, 2024. XHB gained -42.64 points, or -61.51%, in 22 weeks. The price is now at the 15.62% retracement level.

Weekly Technical Indicators: [See XHB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. Use the following link to access a MACD help.

Short-term trend: [See XHB short-term trend chart]
A short-term downtrend had started on May 15, 2024 at 110.09 and reached 101.92 on May 29, 2024. XHB lost 8.17 points, or 7.42%, in 14 days. The price is now at the 41.37% retracement level.

Daily Technical Indicators: [See XHB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since May 21, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

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.

During the last week, the 20 Day Moving Average 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.02
Williams' Percentage Range (W%R) 69.00
Lane's Stochastic (%D-Slow) 24.09
Greed/Fear Indicator (GFI) 33.03
Moving Average Converg./Diverg. (MACD) 0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.33
Williams' Percentage Range (W%R) 38.90
Lane's Stochastic (%D-Slow) 47.44
Greed/Fear Indicator (GFI) 53.05
Moving Average Converg./Diverg. (MACD) 5.83
Trading Signals
Description Value Chart
Upper Bollinger Band 108.69
20 Day Moving Average 105.99
50 Day Moving Average 105.74
Price 105.30
Weekly Stochastic Crossing 105.02
Daily Stochastic Crossing 103.22
Parabolic System 101.82
Lower Bollinger Band 101.63
Quarterly Trendline Resistance 100.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 110.09
High Date 05/15/2024
Low 101.92
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 99.58
Low Date 04/19/2024
High 110.09
High Date 05/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.32
Low Date 10/25/2023
High 111.96
High Date 03/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 100.51
Support 82.91
Low 51.23
Low Date 06/17/2022
High 111.96
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.00
Low Date 03/09/2009
High 111.96
High Date 03/28/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.