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 lineTrend resistance at 16.90
Daily :
Move cursor over the icon to see details.

It was a first positive week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 0.18 points, or 1.06%, and closed at 17.09 on Friday, July 13, 2018. Weekly volume was 109% 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 (13.06) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See XES medium-term trend chart]
A medium-term downtrend had started on December 12, 2016 at 24.58 and reached 12.90 on August 21, 2017. XES lost 11.68 points, or 47.52%, in 36 weeks. The chart has formed a Falling Pennant chart pattern. The price is near the trend resistance line (16.90). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line 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. 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 XES short-term trend chart]
A short-term downtrend had started on May 22, 2018 at 19.19 and reached 16.03 on June 15, 2018. XES lost 3.16 points, or 16.47%, in 24 days. The price is now at the 33.54% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since June 26, 2018. The distance between MACD and the signal line is low, but getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.32
Williams' Percentage Range (W%R) 44.20
Lane's Stochastic (%D-Slow) 63.39
Greed/Fear Indicator (GFI) 57.82
Moving Average Converg./Diverg. (MACD) -0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.63
Williams' Percentage Range (W%R) 41.20
Lane's Stochastic (%D-Slow) 27.15
Greed/Fear Indicator (GFI) 45.47
Moving Average Converg./Diverg. (MACD) 0.22
Trading Signals
Description Value Chart
Upper Bollinger Band 17.67
50 Day Moving Average 17.28
Daily Stochastic Crossing 17.19
Price 17.09
Quarterly Trendline Resistance 16.90
Parabolic System 16.81
Weekly Stochastic Crossing 16.76
20 Day Moving Average 16.76
Lower Bollinger Band 16.23
Quarterly Trendline Support 14.34
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 19.19
High Date 05/22/2018
Low 16.03
Low Date 06/15/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.88
Low Date 04/02/2018
High 19.19
High Date 05/22/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.90
Low Date 08/21/2017
High 19.29
High Date 01/16/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Test Resistance
Resistance 16.90
Support 14.34
High 24.58
High Date 12/12/2016
Low 12.90
Low Date 08/21/2017
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 8.45
Support 13.06
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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