The Greedy Trader Weekly Analysis
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Archive
- 2/8/2019
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SPDR Oil & Gas Exploration & Production
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Summary:
Weekly :Broken trend support line
Daily :Broken trend support lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandPrice has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the SPDR Oil & Gas Exploration & Production (XOP). During the week, the XOP dropped -2.34 points, or -7.62%, and closed at 28.36 on Friday, February 8, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -7% below average.

Long-term trend: [See XOP long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 22.06 and reached 45.45 on July 10, 2018. XOP gained -23.39 points, or -106.03%, in 128 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (35.33) 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 XOP medium-term trend chart]
A medium-term downtrend had started on July 10, 2018 at 45.45 and reached 23.89 on December 26, 2018. XOP lost 21.56 points, or 47.44%, in 24 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 18.98 and resistance is at 43.91. A Broadening Descending 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, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since August 3, 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 XOP short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 23.89 and reached 31.62 on January 18, 2019. XOP gained -7.73 points, or -32.36%, in 23 days. The chart has formed a Rising Pennant chart pattern. The uptrend support line (32.62) 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 short-term trend.

Daily Technical Indicators: [See XOP 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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish 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.

During the last week, the price 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) 27.95
Williams' Percentage Range (W%R) 73.80
Lane's Stochastic (%D-Slow) 36.97
Greed/Fear Indicator (GFI) 30.37
Moving Average Converg./Diverg. (MACD) 0.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.94
Williams' Percentage Range (W%R) 76.50
Lane's Stochastic (%D-Slow) 54.12
Greed/Fear Indicator (GFI) 38.85
Moving Average Converg./Diverg. (MACD) -2.48
Trading Signals
Description Value Chart
Weekly Trendline Support 32.62
Upper Bollinger Band 31.38
Parabolic System 31.20
Weekly Trendline Resistance 31.08
20 Day Moving Average 30.33
50 Day Moving Average 29.75
Daily Stochastic Crossing 28.74
Lower Bollinger Band 28.50
Price 28.36
Weekly Stochastic Crossing 28.32
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 31.62
High Date 01/18/2019
Low 27.80
Low Date 02/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 31.08
Support 32.62
Low 23.89
Low Date 12/26/2018
High 31.62
High Date 01/18/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 43.91
Support 18.98
High 45.45
High Date 07/10/2018
Low 23.89
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.96
Low Date 08/21/2017
High 45.45
High Date 07/10/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 45.63
Support 35.33
Low 22.06
Low Date 01/20/2016
High 45.45
High Date 07/10/2018
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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