The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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SPDR Oil & Gas Exploration & Production
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Summary:
Weekly :Broken trend support line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaPrice is near the Fibonacci 23.6% retracement level
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It was a first positive week after 3 consecutive negative weeks for the SPDR Oil & Gas Exploration & Production (XOP). During the week, the XOP climbed 0.17 points, or 0.57%, and closed at 29.79 on Friday, May 10, 2019. Weekly volume was 13% above 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 (36.41) 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. XOP 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 XOP medium-term trend chart]
A medium-term uptrend had started on February 8, 2019 at 27.80 and reached 33.30 on April 23, 2019. XOP gained -5.50 points, or -19.78%, in 10 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 27.90 and resistance is at 33.88. 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 medium-term trend.

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

The weekly MACD line is above its signal line since February 22, 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 XOP short-term trend chart]
A short-term downtrend had started on April 23, 2019 at 33.30 and reached 28.84 on May 2, 2019. XOP lost 4.46 points, or 13.39%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See XOP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 22.83
Williams' Percentage Range (W%R) 83.00
Oversold
Lane's Stochastic (%D-Slow) 28.12
Greed/Fear Indicator (GFI) 22.66
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.03
Williams' Percentage Range (W%R) 39.30
Lane's Stochastic (%D-Slow) 66.33
Greed/Fear Indicator (GFI) 59.00
Moving Average Converg./Diverg. (MACD) -1.61
Trading Signals
Description Value Chart
Weekly Trendline Resistance 33.88
Upper Bollinger Band 33.09
Weekly Stochastic Crossing 31.56
20 Day Moving Average 31.07
50 Day Moving Average 30.70
Parabolic System 30.38
Price 29.79
Daily Stochastic Crossing 29.49
Lower Bollinger Band 28.01
Weekly Trendline Support 27.90
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 33.30
High Date 04/23/2019
Low 28.84
Low Date 05/02/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 33.88
Support 27.90
Low 27.80
Low Date 02/08/2019
High 33.30
High Date 04/23/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.89
Low Date 12/26/2018
High 33.30
High Date 04/23/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.45
High Date 07/10/2018
Low 23.89
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 45.71
Support 36.41
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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