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Select Sector SPDR ETFs Technical Analysis - XLEArchive - 3/15/2024 - Sign In to see current Signals. |
Energy Select Sector SPDR (XLE) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fifth consecutive positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 3.39 points, or 3.84%, and closed at 91.56 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -15% below average. Long-term trend: [See XLE long-term trend chart] A long-term uptrend had started on March 18, 2020 at 22.88 and reached 94.71 on November 14, 2022. XLE gained -71.83 points, or -313.94%, in 138 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (92.83) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend. Medium-term trend: [See XLE medium-term trend chart] A medium-term uptrend had started on January 18, 2024 at 78.98 and reached 92.21 on March 15, 2024. XLE gained -13.23 points, or -16.75%, in 8 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (88.79) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend. 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 February 16, 2024. 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 uptrend had started on February 5, 2024 at 82.41 and reached 92.21 on March 15, 2024. XLE gained -9.80 points, or -11.89%, in 39 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (88.32) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Relative Strength Index help. The daily MACD line is above its signal line since January 24, 2024. This is an indication that the short-term trend is up. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
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Industry |
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Daily Trend |
Description |
Value |
Direction |
Up |
Chart Pattern |
Uptrend |
Low |
85.97 |
Low Date |
03/05/2024 |
High |
92.21 |
High Date |
03/15/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Channel |
Status |
Broken Resistance |
Resistance |
90.39 |
Support |
88.32 |
Low |
82.41 |
Low Date |
02/05/2024 |
High |
92.21 |
High Date |
03/15/2024 |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Wedge |
Status |
Broken Resistance |
Resistance |
88.62 |
Support |
88.79 |
Low |
78.98 |
Low Date |
01/18/2024 |
High |
92.21 |
High Date |
03/15/2024 |
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Quarterly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
93.69 |
High Date |
09/14/2023 |
Low |
78.98 |
Low Date |
01/18/2024 |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Ascending Triangle |
Status |
Broken Support |
Resistance |
93.07 |
Support |
92.83 |
Low |
22.88 |
Low Date |
03/18/2020 |
High |
94.71 |
High Date |
11/14/2022 |
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