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- 1/8/2021 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARBearish Dark Cloud Cover CandlestickThe price touches the upper Bollinger Band
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It was a second consecutive positive week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO gained 3.83 points, or 10.67%, and closed at 39.71 on Friday, January 8, 2021. It was the best weekly gain since November 13, 2020. Weekly volume was -19% below average.

Long-term trend: [See IEO long-term trend chart]
A long-term downtrend had started on October 9, 2018 at 78.68 and reached 17.63 on March 18, 2020. IEO lost 61.05 points, or 77.59%, in 75 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See IEO medium-term trend chart]
A medium-term uptrend had started on October 29, 2020 at 23.74 and reached 40.60 on January 8, 2021. IEO gained -16.86 points, or -71.02%, in 10 weeks. The price is now at the 5.28% retracement level.

Weekly Technical Indicators: [See IEO weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 6, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See IEO short-term trend chart]
A short-term uptrend had started on December 29, 2020 at 34.91 and reached 40.60 on January 8, 2021. IEO gained -5.69 points, or -16.30%, in 10 days. The price is now at the 15.64% retracement level.

Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See IEO candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.43
Williams' Percentage Range (W%R) 0.20
Strong Overbought
Lane's Stochastic (%D-Slow) 83.56
Overbought
Greed/Fear Indicator (GFI) 82.94
Overbought
Moving Average Converg./Diverg. (MACD) 1.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.90
Williams' Percentage Range (W%R) 0.10
Strong Overbought
Lane's Stochastic (%D-Slow) 86.85
Overbought
Greed/Fear Indicator (GFI) 82.90
Overbought
Moving Average Converg./Diverg. (MACD) -0.59
Trading Signals
Description Value Chart
Daily Stochastic Crossing 39.86
Upper Bollinger Band 39.77
Price 39.71
Weekly Stochastic Crossing 38.88
20 Day Moving Average 36.83
Parabolic System 36.61
Lower Bollinger Band 33.68
50 Day Moving Average 33.65
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 34.91
Low Date 12/29/2020
High 40.60
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.91
Low Date 12/29/2020
High 40.60
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.16
Low Date 12/21/2020
High 40.60
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.74
Low Date 10/29/2020
High 40.60
High Date 01/08/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.68
High Date 10/09/2018
Low 17.63
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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