The Greedy Trader Weekly Analysis
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Archive
- 2/8/2019
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Energy Select Sector SPDR
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Summary:
Weekly :Broken trend support linePrice is near the Fibonacci 38.2% retracement level
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Energy Select Sector SPDR (XLE). During the week, the XLE dropped -1.95 points, or -3.01%, and closed at 62.94 on Friday, February 8, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -38% below average.

Long-term trend: [See XLE long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 49.93 and reached 79.42 on May 22, 2018. XLE gained -29.49 points, or -59.06%, in 121 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (72.75) 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 downtrend had started on May 22, 2018 at 79.42 and reached 53.36 on December 26, 2018. XLE lost 26.06 points, or 32.81%, in 31 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is below its signal line since July 27, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 December 26, 2018 at 53.36 and reached 65.27 on February 1, 2019. XLE gained -11.91 points, or -22.32%, in 37 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 61.77 and resistance is at 66.27. A Broadening Ascending 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, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since December 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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) 44.91
Williams' Percentage Range (W%R) 55.70
Lane's Stochastic (%D-Slow) 69.94
Greed/Fear Indicator (GFI) 53.06
Moving Average Converg./Diverg. (MACD) 0.61
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.32
Williams' Percentage Range (W%R) 61.20
Lane's Stochastic (%D-Slow) 61.13
Greed/Fear Indicator (GFI) 48.17
Moving Average Converg./Diverg. (MACD) -2.86
Trading Signals
Description Value Chart
Yearly Trendline Support 72.75
Weekly Trendline Resistance 66.27
Parabolic System 65.34
Upper Bollinger Band 65.21
Daily Stochastic Crossing 64.04
20 Day Moving Average 63.08
Price 62.94
50 Day Moving Average 61.99
Weekly Trendline Support 61.77
Weekly Stochastic Crossing 61.07
Lower Bollinger Band 60.83
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 65.27
High Date 02/01/2019
Low 61.87
Low Date 02/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 66.27
Support 61.77
Low 53.36
Low Date 12/26/2018
High 65.27
High Date 02/01/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.42
High Date 05/22/2018
Low 53.36
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.80
Low Date 08/21/2017
High 79.42
High Date 05/22/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 79.90
Support 72.75
Low 49.93
Low Date 01/20/2016
High 79.42
High Date 05/22/2018
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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