Chart Analysis » xlb http://chart-analysis.com/stocks-etfs Trend Analysis for Stocks and ETFs Thu, 18 Aug 2011 20:36:10 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 XLB Chart – December 14, 2009 http://chart-analysis.com/stocks-etfs/2009/12/14/xlb-chart-december-14-2009/ http://chart-analysis.com/stocks-etfs/2009/12/14/xlb-chart-december-14-2009/#comments Mon, 14 Dec 2009 22:01:19 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=598 I charted the year to date daily prices for XLB late in the trading day on Monday, December 14th when it was trading at $32.86.  It’s kind of a mixed chart of pick your trend line, pick your story.  The two longest (and therefore most important) trend lines are the darkest below and show a narrowing trading channel that could still last another month or longer.  The other three trend lines are shorter and still have something to prove.  The top one shows potential resistance earlier than the longest trend line of higher highs.  The middle thin line has been a consistent floor for XLB for the past month.  It could come back into play within the next week or so when the longest trend line of higher lows converges with it adding extra support.  The next thin line down shows the most consistent trend of higher lows over the past five months.  Although that line broke for a few days at the October/November mark, it’s still worth watching.  The trouble with that line is that it’s now below the longest trend line of higher lows and if this longer line breaks and much bigger correction could be in store.

XLB is going to be a fun one to watch more closely for the next few weeks.  For now, the $31.00 area looks like a good entry point if support holds, but waiting that long to get in could risk of missing out if the flat line of support that’s closer to $31.75 holds.  Upside potential probably isn’t much greater than $33.50 in the short term.

XLB-Chart_2009-12-14

]]> http://chart-analysis.com/stocks-etfs/2009/12/14/xlb-chart-december-14-2009/feed/ 0 XLB Chart on Trend Line – April 9, 2009 http://chart-analysis.com/stocks-etfs/2009/04/08/xlb-chart-april-9-2009/ http://chart-analysis.com/stocks-etfs/2009/04/08/xlb-chart-april-9-2009/#comments Wed, 08 Apr 2009 16:51:07 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=119 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.

xlb-chart_04-09-2009

]]> http://chart-analysis.com/stocks-etfs/2009/04/08/xlb-chart-april-9-2009/feed/ 0