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Advanced TA SearchArchive - 4/19/2024 - Sign In to see current Signals. |
iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO dropped -3.02 points, or -2.75%, and closed at 106.61 on Friday, April 19, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 54% above average. Long-term trend: [See IEO long-term trend chart] A long-term uptrend had started on March 16, 2023 at 77.25 and reached 112.72 on April 12, 2024. IEO gained -35.47 points, or -45.92%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 91.67 and resistance is at 115.70. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend. Medium-term trend: [See IEO medium-term trend chart] A medium-term uptrend had started on January 18, 2024 at 86.84 and reached 112.72 on April 12, 2024. IEO gained -25.88 points, or -29.80%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 102.04 and resistance is at 114.57. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See IEO weekly technical indicators chart] Weekly Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access Lane's Stochastic help. The weekly MACD line is above its signal line since February 23, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help. Short-term trend: [See IEO short-term trend chart] A short-term downtrend had started on April 12, 2024 at 112.72 and reached 105.21 on April 18, 2024. IEO lost 7.51 points, or 6.66%, in 6 days. The price is now at the 18.64% retracement level. Daily Technical Indicators: [See IEO daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help. The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong. 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 declined below 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 Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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