The Greedy Trader Weekly Analysis
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Archive
- 8/3/2018
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Energy Select Sector SPDR
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Summary:
Weekly :Weekly  MACD line has moved below its signal line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe 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 -1.38 points, or -1.80%, and closed at 75.24 on Friday, August 03, 2018. It was the worst weekly loss since June 15, 2018. Weekly volume was -25% 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 68.21 and resistance is at 78.36. 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 27.92% retracement level.

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

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 July 18, 2018 at 73.98 and reached 77.61 on July 31, 2018. XLE gained -3.63 points, or -4.91%, in 13 days. The price is now at the 65.29% retracement level.

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

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

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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 48.90
Williams' Percentage Range (W%R) 62.40
Lane's Stochastic (%D-Slow) 56.17
Greed/Fear Indicator (GFI) 47.54
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.51
Williams' Percentage Range (W%R) 27.10
Lane's Stochastic (%D-Slow) 48.68
Greed/Fear Indicator (GFI) 56.84
Moving Average Converg./Diverg. (MACD) 1.58
Trading Signals
Description Value Chart
Yearly Trendline Resistance 78.36
Parabolic System 77.69
Upper Bollinger Band 77.54
Daily Stochastic Crossing 76.16
20 Day Moving Average 75.94
50 Day Moving Average 75.70
Weekly Stochastic Crossing 75.59
Price 75.24
Lower Bollinger Band 74.22
Yearly Trendline Support 68.21
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.98
Low Date 07/18/2018
High 77.61
High Date 07/31/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 73.14
Low Date 06/25/2018
High 78.00
High Date 07/10/2018
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 78.36
Support 68.21
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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