The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Energy Select Sector SPDR
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Summary:
Weekly :Broken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageRelative Strength Index and Williams' Percentage Range are oversoldStochastic signal line moved above oversold area
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It was the negative week for the Energy Select Sector SPDR (XLE). During the week, the XLE gave back -0.20 points, or -0.31%, and closed at 64.05 on Friday, May 10, 2019. Weekly volume was -6% 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 (74.62) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. XLE may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See XLE medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 53.36 and reached 68.81 on April 23, 2019. XLE gained -15.45 points, or -28.95%, in 16 weeks. The price is now at the 30.81% retracement level.

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

The weekly MACD line is above its signal line since February 8, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 23, 2019 at 68.81 and reached 62.85 on May 10, 2019. XLE lost 5.96 points, or 8.66%, in 17 days. The price is now at the 20.13% retracement level.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since April 24, 2019. This is an indication that the short-term trend is down.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 14.71
Oversold
Williams' Percentage Range (W%R) 84.90
Oversold
Lane's Stochastic (%D-Slow) 20.59
Greed/Fear Indicator (GFI) 16.80
Oversold
Moving Average Converg./Diverg. (MACD) -0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.39
Williams' Percentage Range (W%R) 32.70
Lane's Stochastic (%D-Slow) 59.09
Greed/Fear Indicator (GFI) 58.36
Moving Average Converg./Diverg. (MACD) -0.93
Trading Signals
Description Value Chart
Yearly Trendline Support 74.62
Upper Bollinger Band 68.77
50 Day Moving Average 66.13
20 Day Moving Average 65.97
Weekly Stochastic Crossing 65.92
Parabolic System 64.72
Price 64.05
Daily Stochastic Crossing 63.63
Lower Bollinger Band 61.96
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 68.81
High Date 04/23/2019
Low 62.85
Low Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 68.81
High Date 04/23/2019
Low 62.85
Low Date 05/10/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.36
Low Date 12/26/2018
High 68.81
High Date 04/23/2019
Quarterly Trend
Yearly Trend
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
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 80.07
Support 74.62
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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