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Archive
- 1/11/2019
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Newfield Exploration Co
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Summary:
Weekly :Broken trend support lineOversold sectorLane's Stochastic is oversoldBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal linePrice has crossed above the 50 Day Moving Average
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It was a third positive week after 7 consecutive negative weeks for the Newfield Exploration Co (NFX). During the week, the NFX gained 1.59 points, or 9.96%, and closed at 17.55 on Friday, January 11, 2019. Weekly volume was 147% above average.

NFX is a member of Basic Materials Sector. Basic Materials is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See NFX long-term trend chart]
A long-term downtrend had started on December 12, 2016 at 50.00 and reached 12.45 on December 26, 2018. NFX lost 37.55 points, or 75.1%, in 106 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend support line (20.06) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See NFX medium-term trend chart]
A medium-term downtrend had started on September 24, 2018 at 30.14 and reached 12.45 on December 26, 2018. NFX lost 17.69 points, or 58.69%, in 13 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (8.23) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NFX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See NFX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since October 5, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See NFX short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 12.45 and reached 17.92 on January 11, 2019. NFX gained -5.47 points, or -43.94%, in 16 days. The price is now at the 6.76% retracement level.

Daily Technical Indicators: [See NFX daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is above its signal line since December 24, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.27
Overbought
Williams' Percentage Range (W%R) 13.70
Overbought
Lane's Stochastic (%D-Slow) 92.85
Strong Overbought
Greed/Fear Indicator (GFI) 86.47
Overbought
Moving Average Converg./Diverg. (MACD) -0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.95
Williams' Percentage Range (W%R) 73.30
Lane's Stochastic (%D-Slow) 15.57
Oversold
Greed/Fear Indicator (GFI) 27.10
Moving Average Converg./Diverg. (MACD) -2.64
Trading Signals
Description Value Chart
Yearly Trendline Support 20.06
Upper Bollinger Band 18.53
Daily Stochastic Crossing 17.68
Price 17.55
50 Day Moving Average 17.46
Parabolic System 16.05
Monthly Trendline Resistance 15.72
20 Day Moving Average 15.15
Weekly Stochastic Crossing 14.06
Lower Bollinger Band 13.54
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Independent Oil & Gas 34
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 12.45
Low Date 12/26/2018
High 17.92
High Date 01/11/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.45
Low Date 12/26/2018
High 17.92
High Date 01/11/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 15.72
Support 8.23
High 30.14
High Date 09/24/2018
Low 12.45
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.46
High Date 07/10/2018
Low 12.45
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Support
Resistance 24.36
Support 20.06
High 50.00
High Date 12/12/2016
Low 12.45
Low Date 12/26/2018
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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