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SPDR Oil & Gas Equipment & Services
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|It was a second positive week after 4 consecutive negative weeks for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 0.80 points, or 5.07%, and closed at 16.57 on Friday, November 10, 2017. Weekly volume was 48% above average. |
Long-term trend: [See XES long-term trend chart]
A long-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 price is now at the 31.42% retracement level.
Medium-term trend: [See XES medium-term trend chart]
A medium-term uptrend had started on August 21, 2017 at 12.90 and reached 16.73 on November 9, 2017. XES gained -3.83 points, or -29.69%, in 11 weeks. The chart has formed a Descending Triangle chart pattern. The price is near the trend resistance line (16.73). 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 above its signal line since September 8, 2017. This is an indication that the medium-term trend is up. 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 November 9, 2017 at 16.73 and reached 16.43 on November 10, 2017. XES lost 0.30 points, or 1.79%, in 1 days. The price is now at the 46.67% retracement level.
Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since November 1, 2017. The distance between MACD and the signal line is relatively high and getting bigger.
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.