XLB Stretched at $46.11, RSI Overbought
BearishXLB (XLB) closed up 0.59% at $46.11 on December 29.
Technical indicators paint a bullish picture:
Moving Averages
Price trades above the 9-day EMA ($45.47) with a bullish stack. The 21-day EMA at $44.84 provides support.
Momentum
RSI at 72.8 is in overbought territory, suggesting potential near-term exhaustion. MACD is bullish (0.53 vs signal 0.40).
While the trend remains bullish, elevated RSI warrants caution for new entries at current levels.