XLB Stock Tickeron detected bearish ETF Pattern: Cup-and-Handle Inverse XLB on October 23, 2024, netting in a 4.59% gain over 4 weeks

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XLB - The Materials Select Sector SPDR® ETF

Ticker: XLB

Company: The Materials Select Sector SPDR® ETF

Gain from shortening: +4.59%

Confirmed: 10/23/24

Succeeded: 11/14/24

Total length: 30 days

XLB sees MACD Histogram just turned negative

XLB saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on October 22, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 48 instances where the indicator turned negative. In of the 48 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on November 11, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on XLB as a result. In of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

XLB moved below its 50-day moving average on November 11, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for XLB crossed bearishly below the 50-day moving average on November 05, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where XLB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for XLB entered a downward trend on November 15, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator entered the oversold zone -- be on the watch for XLB's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XLB advanced for three days, in of 349 cases, the price rose further within the following month. The odds of a continued upward trend are .

XLB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.