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Downtrend Broken Resist.Archive
- 10/2/2026 -
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SPDR Oil & Gas Equipment & Services (XES) Technical Analysis
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| Summary:
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| | It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES dropped -3.41 points, or -3.03%, and closed at 109.16 on Friday, October 2, 2026. Weekly volume was -23% below average.
 Long-term trend: [See XES long-term trend chart]
A long-term uptrend had started on April 9, 2025 at 51.19 and reached 135.35 on May 20, 2026. XES gained -84.16 points, or -164.41%, in 58 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (111.82) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. XES may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.
 Medium-term trend: [See XES medium-term trend chart]
A medium-term downtrend had started on August 18, 2026 at 126.18 and reached 106.45 on October 1, 2026. XES lost 19.73 points, or 15.64%, in 6 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 106.12 and resistance is at 125.28. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since May 29, 2026. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See XES short-term trend chart]
A short-term downtrend had started on September 2, 2026 at 125.87 and reached 106.45 on October 1, 2026. XES lost 19.42 points, or 15.43%, in 29 days. The price is now at the 13.95% retracement level.
 Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since September 9, 2026. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
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