The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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SPDR Oil & Gas Equipment & Services
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineTrend resistance at 17.36
Daily :Stochastic has raised above the signal linePrice is close to the 50 Day Moving Average
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It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gave back -0.08 points, or -0.47%, and closed at 17.11 on Friday, June 08, 2018. XES was trading at average weekly trading volume.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on July 1, 2014 at 49.63 and reached 12.62 on January 20, 2016. XES lost 37.01 points, or 74.57%, in 81 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (13.04) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See XES medium-term trend chart]
A medium-term downtrend had started on December 12, 2016 at 24.58 and reached 12.90 on August 21, 2017. XES lost 11.68 points, or 47.52%, in 36 weeks. The chart has formed a Falling Pennant chart pattern. The price is near the trend resistance line (17.36). 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 medium-term trend.

Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since April 20, 2018. 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 May 22, 2018 at 19.19 and reached 16.74 on June 4, 2018. XES lost 2.45 points, or 12.77%, in 13 days. The price is now at the 15.10% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since May 23, 2018. This is an indication that the short-term trend is down.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.22
Williams' Percentage Range (W%R) 67.30
Lane's Stochastic (%D-Slow) 33.06
Greed/Fear Indicator (GFI) 31.98
Moving Average Converg./Diverg. (MACD) 0.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.40
Williams' Percentage Range (W%R) 31.10
Lane's Stochastic (%D-Slow) 79.77
Greed/Fear Indicator (GFI) 68.00
Moving Average Converg./Diverg. (MACD) 0.15
Trading Signals
Description Value Chart
Upper Bollinger Band 18.76
Weekly Stochastic Crossing 18.46
20 Day Moving Average 17.82
Parabolic System 17.77
Quarterly Trendline Resistance 17.36
Daily Stochastic Crossing 17.18
Price 17.11
50 Day Moving Average 16.94
Lower Bollinger Band 16.17
Quarterly Trendline Support 14.19
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 19.19
High Date 05/22/2018
Low 16.74
Low Date 06/04/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.88
Low Date 04/02/2018
High 19.19
High Date 05/22/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.90
Low Date 08/21/2017
High 19.29
High Date 01/16/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Test Resistance
Resistance 17.36
Support 14.19
High 24.58
High Date 12/12/2016
Low 12.90
Low Date 08/21/2017
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 9.42
Support 13.04
High 49.63
High Date 07/01/2014
Low 12.62
Low Date 01/20/2016
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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