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Archive
- 1/8/2021 -
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Energy Select Sector SPDR (XLE)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARBroken trend resistance lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 3 consecutive negative weeks for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 3.52 points, or 9.29%, and closed at 41.42 on Friday, January 8, 2021. It was the best weekly gain since November 13, 2020. Weekly volume was 20% above average.

Long-term trend: [See XLE long-term trend chart]
A long-term downtrend had started on May 22, 2018 at 79.42 and reached 22.88 on March 18, 2020. XLE lost 56.54 points, or 71.19%, in 95 weeks. The price is now at the 32.79% retracement level.

Medium-term trend: [See XLE medium-term trend chart]
A medium-term uptrend had started on October 29, 2020 at 26.98 and reached 42.08 on December 10, 2020. XLE gained -15.10 points, or -55.97%, in 6 weeks. Price is near the trend high.

Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 6, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See XLE short-term trend chart]
A short-term downtrend had started on December 10, 2020 at 42.08 and reached 37.02 on December 21, 2020. XLE lost 5.06 points, or 12.02%, in 11 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (38.05) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XLE may retest the broken resistance line. It is considered to be a support 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 resistance line in a short-term trend.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range.

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

During the last week, the price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.71
Williams' Percentage Range (W%R) 1.60
Strong Overbought
Lane's Stochastic (%D-Slow) 77.43
Greed/Fear Indicator (GFI) 77.86
Moving Average Converg./Diverg. (MACD) 0.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.21
Williams' Percentage Range (W%R) 0.50
Strong Overbought
Lane's Stochastic (%D-Slow) 84.31
Overbought
Greed/Fear Indicator (GFI) 81.71
Overbought
Moving Average Converg./Diverg. (MACD) -1.05
Trading Signals
Description Value Chart
Upper Bollinger Band 41.95
Price 41.42
Daily Stochastic Crossing 41.27
Weekly Stochastic Crossing 40.32
20 Day Moving Average 39.38
Weekly Trendline Support 38.05
Parabolic System 37.98
50 Day Moving Average 36.71
Lower Bollinger Band 36.27
Weekly Trendline Resistance 35.26
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 37.02
Low Date 12/21/2020
High 42.00
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 35.26
Support 38.05
High 42.08
High Date 12/10/2020
Low 37.02
Low Date 12/21/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.98
Low Date 10/29/2020
High 42.08
High Date 12/10/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.42
High Date 05/22/2018
Low 22.88
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 101.52
High Date 06/23/2014
Low 22.88
Low Date 03/18/2020
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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