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Downtrend Broken Resist.Archive
- 11/6/2026 -
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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 -18.39 points, or -16.05%, and closed at 96.20 on Friday, November 6, 2026. Weekly volume was 108% above 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 (115.89) 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 May 20, 2026 at 135.35 and reached 93.34 on November 5, 2026. XES lost 42.01 points, or 31.04%, in 24 weeks. The price is now at the 6.81% retracement level.
 Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 29, 2026 at 115.27 and reached 93.34 on November 5, 2026. XES lost 21.93 points, or 19.02%, in 7 days. The price is now at the 13.04% retracement level.
 Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
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 declined below the moving average in the center of the Bollinger Bands. 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.
 Candlestick pattern: [See XES candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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