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Archive
- 6/8/2018
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Newfield Exploration Co
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Summary:
Weekly :Overbought sectorTrend resistance at 29.50
Daily :The price has fallen below the Parabolic SAR
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.94
Williams' Percentage Range (W%R) 58.70
Lane's Stochastic (%D-Slow) 37.23
Greed/Fear Indicator (GFI) 43.16
Moving Average Converg./Diverg. (MACD) 0.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.64
Williams' Percentage Range (W%R) 48.80
Lane's Stochastic (%D-Slow) 73.91
Greed/Fear Indicator (GFI) 61.19
Moving Average Converg./Diverg. (MACD) -0.72
Trading Signals
Description Value Chart
Monthly Trendline Resistance 31.42
Weekly Trendline Resistance 30.99
Parabolic System 30.31
Upper Bollinger Band 30.00
Weekly Stochastic Crossing 29.69
Yearly Trendline Resistance 29.50
Price 29.15
20 Day Moving Average 28.93
Daily Stochastic Crossing 28.85
Monthly Trendline Support 28.36
50 Day Moving Average 27.75
Lower Bollinger Band 27.40
Weekly Trendline Support 27.15
Sector and Industry
Description Name Rank
Sector Basic Materials 10
Industry Independent Oil & Gas 115
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 27.76
Low Date 06/05/2018
High 29.20
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Rectangle
Status Valid
Resistance 30.99
Support 27.15
High 30.98
High Date 05/22/2018
Low 27.35
Low Date 05/25/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 31.42
Support 28.36
Low 22.72
Low Date 03/07/2018
High 30.98
High Date 05/22/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 35.20
High Date 01/09/2018
Low 22.72
Low Date 03/07/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 29.50
Support 21.91
High 50.00
High Date 12/12/2016
Low 22.72
Low Date 03/07/2018
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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