XLB materials ETF: buyers are back
XLB gains 4.8% this week as buyers retake firm control
XLB materials ETF: buyers are back
Our view last week
XLB, the US materials sector ETF, closed the week down 1.6%, with 91% of volume on the sell side, after the prior week saw the opposite — buyers firmly in charge. Price stays boxed between the first resistance in the 50.6 area and the first support in the 50.1 area, while the trade is in its 16th week of management and shows a small loss of 2.9% from entry. Technical analysis of the ETF and the key levels to watch.
This week's summary
XLB, the US materials sector ETF, reverses last week's slide: after a 1.6% drop closed with 91% of volume on the sell side, this week gains 4.8% with buyers almost unanimous, 96% of the flow. The weekly RSI climbs back above 59 and money flow (CMF) turns positive again. Price, though, stays pinned near the highs, squeezed between the first resistance and the first support just below. Technical analysis of XLB and the key levels to watch.
IQS Phase
70
in tension
Signal Strength
33
medium · weak
Sizing
REDUCED
Ranking
#103 / 132
US stocks in progress
Trade P&L %
+1.73%
from signal to date, no stop loss
Rank position
ranks 103rd among the 132 Longs already running for US stocks in our ranking, with a signal strength of 33 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +4.82% · monthly +5.38%
XLB belongs to the etf settoriale sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
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