The Greedy Trader Weekly Analysis
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Number of records: 15
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
SPDR Oil & Gas Equipment & Services
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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergenceThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 0.31 points, or 1.85%, and closed at 17.03 on Friday, October 05, 2018. Weekly volume was 83% above average.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on July 1, 2014 at 49.63 and reached 12.62 on January 20, 2016. XES lost 37.01 points, or 74.57%, in 81 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (13.10) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XES may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See XES medium-term trend chart]
A medium-term uptrend had started on August 21, 2017 at 12.90 and reached 19.29 on January 16, 2018. XES gained -6.39 points, or -49.53%, in 21 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 13.65 and resistance is at 20.15. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since June 29, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See XES short-term trend chart]
A short-term uptrend had started on September 7, 2018 at 14.87 and reached 17.37 on October 4, 2018. XES gained -2.50 points, or -16.81%, in 27 days. The price is now at the 13.6% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 above its signal line since September 13, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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 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) 75.65
Williams' Percentage Range (W%R) 18.60
Overbought
Lane's Stochastic (%D-Slow) 72.61
Bearish
Greed/Fear Indicator (GFI) 76.55
Moving Average Converg./Diverg. (MACD) 0.14 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.57
Williams' Percentage Range (W%R) 50.90
Lane's Stochastic (%D-Slow) 56.67
Greed/Fear Indicator (GFI) 52.00
Moving Average Converg./Diverg. (MACD) -0.01
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 20.15
Upper Bollinger Band 17.60
Parabolic System 17.39
Daily Stochastic Crossing 17.10
Price 17.03
Weekly Stochastic Crossing 16.52
20 Day Moving Average 16.47
50 Day Moving Average 16.42
Lower Bollinger Band 15.63
Quarterly Trendline Support 13.65
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 16.39
Low Date 09/27/2018
High 17.37
High Date 10/04/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.87
Low Date 09/07/2018
High 17.37
High Date 10/04/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 19.19
High Date 05/22/2018
Low 14.87
Low Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rectangle
Status Valid
Resistance 20.15
Support 13.65
Low 12.90
Low Date 08/21/2017
High 19.29
High Date 01/16/2018
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 6.06
Support 13.10
High 49.63
High Date 07/01/2014
Low 12.62
Low Date 01/20/2016
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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