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Downtrend Broken Resist.Archive
- 1/3/2025 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 4 consecutive negative weeks for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO gained 4.54 points, or 5.20%, and closed at 91.93 on Friday, January 3, 2025. It was the best weekly gain since November 8, 2024. Weekly volume was 31% above average.
 Long-term trend: [See IEO long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 17.63 and reached 112.72 on April 12, 2024. IEO gained -95.09 points, or -539.36%, in 212 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (113.07) 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 long-term trend.
 Medium-term trend: [See IEO medium-term trend chart]
A medium-term downtrend had started on November 25, 2024 at 102.45 and reached 84.78 on December 20, 2024. IEO lost 17.67 points, or 17.25%, in 3 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See IEO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 13, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See IEO short-term trend chart]
A short-term uptrend had started on December 20, 2024 at 84.78 and reached 92.17 on January 3, 2025. IEO gained -7.39 points, or -8.72%, in 14 days. Price is near the trend high.
Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
 Candlestick pattern: [See IEO 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.
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