The Greedy Trader Weekly Analysis
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Number of records: 10
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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 support lineBroken trend support lineRelative Strength Index and Lane's Stochastic are oversold
Daily :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are strongly overboughtThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was a third positive week after 11 consecutive negative weeks for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 0.78 points, or 7.93%, and closed at 10.62 on Friday, January 11, 2019. Weekly volume was 130% above average.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on December 12, 2016 at 24.58 and reached 8.14 on December 26, 2018. XES lost 16.44 points, or 66.88%, in 106 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend support line (15.14) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 XES medium-term trend chart]
A medium-term downtrend had started on January 16, 2018 at 19.29 and reached 8.14 on December 26, 2018. XES lost 11.15 points, or 57.80%, in 49 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (15.64) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 medium-term trend.

Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index and Lane's Stochastic. 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 Relative Strength Index help.

The weekly MACD line is below its signal line since June 29, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See XES short-term trend chart]
A short-term downtrend had started on May 22, 2018 at 19.19 and reached 8.14 on December 26, 2018. XES lost 11.05 points, or 57.58%, in 218 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The downtrend support line (13.28) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 XES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since December 28, 2018. The distance between MACD and the signal line is near its high and getting bigger.

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 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) 78.91
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 96.10
Strong Overbought
Greed/Fear Indicator (GFI) 90.00
Overbought
Moving Average Converg./Diverg. (MACD) -0.56
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.45
Oversold
Williams' Percentage Range (W%R) 74.10
Lane's Stochastic (%D-Slow) 12.78
Oversold
Greed/Fear Indicator (GFI) 24.11
Moving Average Converg./Diverg. (MACD) -1.25
Trading Signals
Description Value Chart
Upper Bollinger Band 11.56
50 Day Moving Average 11.32
Daily Stochastic Crossing 10.64
Price 10.62
Parabolic System 9.76
20 Day Moving Average 9.56
Weekly Stochastic Crossing 8.89
Lower Bollinger Band 8.65
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 17.65
High Date 10/09/2018
Low 8.14
Low Date 12/26/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Broken Support
Resistance 17.63
Support 13.28
High 19.19
High Date 05/22/2018
Low 8.14
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 17.29
Support 15.64
High 19.29
High Date 01/16/2018
Low 8.14
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Support
Resistance 16.06
Support 15.14
High 24.58
High Date 12/12/2016
Low 8.14
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 49.63
High Date 07/01/2014
Low 8.14
Low Date 12/26/2018
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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