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Uptrend ExhaustionArchive
- 2/20/2026 -
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SPDR Oil & Gas Equipment & Services (XES) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a ninth consecutive positive week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 2.27 points, or 2.08%, and closed at 111.55 on Friday, February 20, 2026. Weekly volume was 153% above average.
 Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on September 12, 2023 at 100.81 and reached 51.19 on April 9, 2025. XES lost 49.62 points, or 49.22%, in 82 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (33.65) 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 April 9, 2025 at 51.19 and reached 112.21 on February 19, 2026. XES gained -61.02 points, or -119.20%, in 45 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (85.00) 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 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 weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since June 6, 2025. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its 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 February 12, 2026 at 104.22 and reached 112.21 on February 19, 2026. XES gained -7.99 points, or -7.67%, in 7 days. The price is now at the 8.26% retracement level.
 Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since January 2, 2026. This is an indication that the short-term trend is up.
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