XLB Chart on Trend Line – April 9, 2009
Materials Select Sector SPDR ETF Fund (XLB) attempts to track the materials economic sector. I captured this XLB Chart at 10:00 am on 4/9/09 while XLB was trading at $22.67.
- XLB is touching its trend line of higher lows
- XLB fell below its 10 day moving average yesterday and closed below it
- The 50 day moving average for XLB is just above 22.00 and could offer further support
- Williams %R broke below oversold yesterday, but only on the 14 day indicator, not the 28 – The 14 day indicator is showing strength again today
Opinion = XLB has multiple lines of potential support within $1.50 of its current trading price. I’m leaning bullish on XLB, especially if support holds today on this trend line of higher lows.
I'll take requests for stocks and ETFs to chart too. You can reach me at alex [AT] chart-analysis.com. DISCLAIMER: Charts found on these pages are my opinions and I take no responsibility for any losses you may incur if you agree with my charts. Although I am a Registered Investment Advisor Representative, the content contained on this site is not personal advise. Consult your own financial advisor or do your own research before trading or investing in any of these securities.
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