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June 18, 2023
Friday at a glance: without a clear direction, Consumer Staples Select Sector SPDR Fund closed at $74.67 while ranging between $74.6 and $75.05.
Technical analysis of Consumer Staples Select Sector SPDR Fund's past price action reveals multiple support and resistance levels: Consumer Staples Select Sector SPDR Fund is approaching key support, around 17 cents away from $74.5. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-following investors would be interested to note that investors are seeking long positions as Consumer Staples Select Sector SPDR Fund price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Consumer Staples Select Sector SPDR Fund's upper Bollinger Band® is at $74.93, suggesting that a downward move may follow.
Notwithstanding Consumer Staples Select Sector SPDR Fund's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While Consumer Staples Select Sector SPDR Fund was pretty flat Friday, mixed performances were seen elsewhere as Toyota drops 2.28% Friday and closed at $168.18. Bristol-Myers Squibb Company is trading around $66.16 after ending Friday's session at $64.67 (up 2.3% today). Walt Disney lost 1.74% Friday and closed at $92.94.
Consumer Staples Select Sector SPDR Fund is now trading 3.77% below the significant high of $77.5 it set around a month ago.
