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Newfield Exploration Co
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|It was the negative week for the Newfield Exploration Co (NFX). During the week, the NFX dropped -0.80 points, or -2.67%, and closed at 29.15 on Friday, June 08, 2018. NFX was trading at average weekly trading volume. |
NFX is a member of Basic Materials Sector. Basic Materials is the most overbought 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 22.72 on March 7, 2018. NFX lost 27.28 points, or 54.56%, in 64 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (29.50). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
Medium-term trend: [See NFX medium-term trend chart]
A medium-term uptrend had started on March 7, 2018 at 22.72 and reached 30.98 on May 22, 2018. NFX gained -8.26 points, or -36.36%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 28.36 and resistance is at 31.42. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See NFX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since April 20, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See NFX short-term trend chart]
A short-term downtrend had started on May 22, 2018 at 30.98 and reached 27.35 on May 25, 2018. NFX lost 3.63 points, or 11.72%, in 3 days. The chart has formed a Rectangle chart pattern. The trend support level is at 27.15 and resistance is at 30.99. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a short-term trend.
Daily Technical Indicators: [See NFX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 23, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.