The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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Energy Select Sector SPDR
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overbought
Daily :The price has risen above the Parabolic SAR
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It was a second consecutive positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE climbed 0.52 points, or 0.68%, and closed at 76.90 on Friday, June 08, 2018. Weekly volume was -7% 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 trend support level is at 67.10 and resistance is at 78.37. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See XLE medium-term trend chart]
A medium-term uptrend had started on February 9, 2018 at 64.45 and reached 79.42 on May 22, 2018. XLE gained -14.97 points, or -23.23%, in 14 weeks. The price is now at the 16.83% retracement level.

Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 April 20, 2018. 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 May 22, 2018 at 79.42 and reached 73.66 on May 29, 2018. XLE lost 5.76 points, or 7.25%, in 7 days. The chart has formed a Symmetric Triangle chart pattern. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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 below its signal line since May 23, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.52
Williams' Percentage Range (W%R) 39.60
Lane's Stochastic (%D-Slow) 63.28
Greed/Fear Indicator (GFI) 56.07
Moving Average Converg./Diverg. (MACD) 0.78
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.33
Williams' Percentage Range (W%R) 15.20
Overbought
Lane's Stochastic (%D-Slow) 86.00
Overbought
Greed/Fear Indicator (GFI) 77.17
Moving Average Converg./Diverg. (MACD) 1.16
Trading Signals
Description Value Chart
Upper Bollinger Band 78.43
Yearly Trendline Resistance 78.37
Weekly Stochastic Crossing 78.11
Price 76.90
20 Day Moving Average 76.79
Daily Stochastic Crossing 76.73
Weekly Trendline Support 76.09
Weekly Trendline Resistance 76.09
50 Day Moving Average 73.87
Parabolic System 73.66
Lower Bollinger Band 73.66
Yearly Trendline Support 67.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.66
Low Date 05/29/2018
High 77.49
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status
Resistance 76.09
Support 76.09
High 79.42
High Date 05/22/2018
Low 73.66
Low Date 05/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.45
Low Date 02/09/2018
High 79.42
High Date 05/22/2018
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 Valid
Resistance 78.37
Support 67.10
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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