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 support lineStochastic signal line moved above oversold areaBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBearish Deliberation CandlestickPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second positive week after 3 consecutive negative weeks for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 1.66 points, or 11.30%, and closed at 16.35 on Friday, April 13, 2018. Weekly volume was 17% 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 (13.01) 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 Broadening Ascending Wedge chart pattern. The uptrend support line (18.21) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since February 16, 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 April 2, 2018 at 13.88 and reached 16.49 on April 13, 2018. XES gained -2.61 points, or -18.80%, in 11 days. The price is now at the 5.36% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since April 4, 2018. This is an indication that the short-term trend is up.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price 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.

Candlestick pattern: [See XES candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.75
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 84.97
Overbought
Greed/Fear Indicator (GFI) 80.48
Overbought
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.96
Williams' Percentage Range (W%R) 55.30
Lane's Stochastic (%D-Slow) 26.07
Greed/Fear Indicator (GFI) 38.11
Moving Average Converg./Diverg. (MACD) -0.17
Trading Signals
Description Value Chart
Monthly Trendline Support 18.21
Upper Bollinger Band 16.52
Price 16.35
Daily Stochastic Crossing 16.33
50 Day Moving Average 15.30
20 Day Moving Average 15.04
Parabolic System 14.69
Weekly Stochastic Crossing 14.58
Lower Bollinger Band 13.99
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 13.88
Low Date 04/02/2018
High 16.49
High Date 04/13/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 19.29
High Date 01/16/2018
Low 13.88
Low Date 04/02/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 22.84
Support 18.21
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 DownTrend
Status
Resistance
Support
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 11.00
Support 13.01
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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