The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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SPDR Oil & Gas Equipment & Services
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Summary:
Weekly :Broken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageRelative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldLane's Stochastic and MACD bullish divergence
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It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES dropped -0.49 points, or -4.47%, and closed at 10.48 on Friday, May 10, 2019. Weekly volume was -31% below average.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on January 16, 2018 at 19.29 and reached 8.14 on December 26, 2018. XES lost 11.15 points, or 57.80%, in 49 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 5.27 and resistance is at 18.91. 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 long-term trend.

Medium-term trend: [See XES medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 8.14 and reached 12.65 on April 23, 2019. XES gained -4.51 points, or -55.41%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (12.60) 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 medium-term trend.

Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since February 8, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 23, 2019 at 12.65 and reached 10.30 on May 10, 2019. XES lost 2.35 points, or 18.58%, in 17 days. The chart has formed a Falling Channel chart pattern.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since April 24, 2019. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 14.84
Oversold
Williams' Percentage Range (W%R) 90.60
Strong Oversold
Lane's Stochastic (%D-Slow) 18.49
Oversold Bullish
Greed/Fear Indicator (GFI) 14.23
Oversold
Moving Average Converg./Diverg. (MACD) -0.19 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.06
Williams' Percentage Range (W%R) 47.20
Lane's Stochastic (%D-Slow) 57.83
Greed/Fear Indicator (GFI) 52.37
Moving Average Converg./Diverg. (MACD) -0.72
Trading Signals
Description Value Chart
Upper Bollinger Band 12.58
50 Day Moving Average 11.54
20 Day Moving Average 11.47
Weekly Stochastic Crossing 11.47
Parabolic System 10.96
Price 10.48
Daily Stochastic Crossing 10.46
Lower Bollinger Band 9.90
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 12.65
High Date 04/23/2019
Low 10.30
Low Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 12.84
Support 12.60
Low 8.14
Low Date 12/26/2018
High 12.65
High Date 04/23/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 18.91
Support 5.27
High 19.29
High Date 01/16/2018
Low 8.14
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 24.58
High Date 12/12/2016
Low 8.14
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 49.63
High Date 07/01/2014
Low 8.14
Low Date 12/26/2018
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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