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Downtrend Broken Resist.Archive
- 7/19/2024 -
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Financial Select Sector SPDR (XLF) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Financial Select Sector SPDR (XLF). During the week, the XLF gained 0.48 points, or 1.13%, and closed at 42.85 on Friday, July 19, 2024. Weekly volume was 25% above average.
 Long-term trend: [See XLF long-term trend chart]
A long-term downtrend had started on January 13, 2022 at 41.70 and reached 29.59 on October 13, 2022. XLF lost 12.11 points, or 29.04%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.78) 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. XLF 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 XLF medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 29.59 and reached 44.11 on July 18, 2024. XLF gained -14.52 points, or -49.07%, in 92 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (32.58) 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 medium-term trend.
 Weekly Technical Indicators: [See XLF weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 April 19, 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 XLF short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 39.53 and reached 44.11 on July 18, 2024. XLF gained -4.58 points, or -11.59%, in 93 days. The price is now at the 27.51% retracement level.
 Daily Technical Indicators: [See XLF daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since July 1, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (42.65) comes close to the price (42.85). It indicates that the trend is getting weaker. 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.
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