The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 10/16/2026 -
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SPDR Oil & Gas Equipment & Services (XES) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price touches the lower Bollinger Band
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It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES dropped -4.86 points, or -4.39%, and closed at 105.92 on Friday, October 16, 2026. Weekly volume was -52% 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 (113.45) is broken. A broken support is considered to be a long-term bearish signal. 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 uptrend had started on July 29, 2026 at 104.32 and reached 126.18 on August 18, 2026. XES gained -21.86 points, or -20.95%, in 2 weeks. The price is now at the 92.68% retracement level.

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. 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 October 12, 2026 at 112.57 and reached 102.93 on October 15, 2026. XES lost 9.64 points, or 8.56%, in 3 days. The price is now at the 31.02% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily technical indicators are neutral.

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

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.

The price touches the lower 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.93
Williams' Percentage Range (W%R) 79.30
Lane's Stochastic (%D-Slow) 32.93
Greed/Fear Indicator (GFI) 30.53
Moving Average Converg./Diverg. (MACD) -2.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.82
Williams' Percentage Range (W%R) 89.20
Oversold
Lane's Stochastic (%D-Slow) 30.44
Greed/Fear Indicator (GFI) 29.16
Moving Average Converg./Diverg. (MACD) 2.86
Trading Signals
Description Value Chart
Yearly Trendline Resistance 119.86
50 Day Moving Average 116.39
Upper Bollinger Band 115.79
Yearly Trendline Support 113.45
Parabolic System 113.06
20 Day Moving Average 110.21
Weekly Stochastic Crossing 108.38
Price 105.92
Lower Bollinger Band 105.74
Daily Stochastic Crossing 105.63
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 112.57
High Date 10/12/2026
Low 102.93
Low Date 10/15/2026
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 113.81
High Date 10/05/2026
Low 102.93
Low Date 10/15/2026
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 126.18
High Date 08/18/2026
Low 102.93
Low Date 10/15/2026
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 104.32
Low Date 07/29/2026
High 126.18
High Date 08/18/2026
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 119.86
Support 113.45
Low 51.19
Low Date 04/09/2025
High 135.35
High Date 05/20/2026
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.