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 uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
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 0.96 points, or 5.27%, and closed at 19.19 on Friday, January 12, 2018. Weekly volume was 46% 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 12.90 on August 21, 2017. XES lost 11.68 points, or 47.52%, in 36 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (16.18) 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 19.27 on January 12, 2018. XES gained -6.37 points, or -49.38%, in 20 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (16.07) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 weekly MACD line is above its signal line since September 8, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 December 6, 2017 at 15.41 and reached 19.27 on January 12, 2018. XES gained -3.86 points, or -25.05%, in 37 days. Price is near the trend high.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since December 19, 2017. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.62
Overbought
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 92.82
Strong Overbought
Greed/Fear Indicator (GFI) 90.80
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.25
Williams' Percentage Range (W%R) 3.00
Strong Overbought
Lane's Stochastic (%D-Slow) 82.83
Overbought
Greed/Fear Indicator (GFI) 80.89
Overbought
Moving Average Converg./Diverg. (MACD) -0.23
Trading Signals
Description Value Chart
Upper Bollinger Band 19.84
Price 19.19
Daily Stochastic Crossing 19.10
Weekly Stochastic Crossing 18.74
Parabolic System 18.38
20 Day Moving Average 17.38
Monthly Trendline Resistance 16.74
50 Day Moving Average 16.46
Quarterly Trendline Support 16.18
Monthly Trendline Support 16.07
Lower Bollinger Band 15.41
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 15.41
Low Date 12/06/2017
High 19.27
High Date 01/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.90
Low Date 11/15/2017
High 19.27
High Date 01/12/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 16.74
Support 16.07
Low 12.90
Low Date 08/21/2017
High 19.27
High Date 01/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 15.26
Support 16.18
High 24.58
High Date 12/12/2016
Low 12.90
Low Date 08/21/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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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