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Select Sector SPDR ETFs Technical AnalysisArchive
- 3/17/2023 -
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Energy Select Sector SPDR (XLE) |
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Energy Select Sector SPDR (XLE). During the week, the XLE dropped -5.66 points, or -6.85%, and closed at 76.97 on Friday, March 17, 2023. Weekly volume was 56% above average.
 Long-term trend: [See XLE long-term trend chart]
A long-term downtrend had started on November 14, 2022 at 94.71 and reached 75.36 on March 16, 2023. XLE lost 19.35 points, or 20.43%, in 17 weeks. The price is now at the 8.32% retracement level.
 Medium-term trend: [See XLE medium-term trend chart]
A medium-term downtrend had started on January 26, 2023 at 93.15 and reached 75.36 on March 16, 2023. XLE lost 17.79 points, or 19.10%, in 7 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (80.04) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.
 Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 16, 2022. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See XLE short-term trend chart]
A short-term downtrend had started on March 3, 2023 at 87.68 and reached 75.36 on March 16, 2023. XLE lost 12.32 points, or 14.05%, in 13 days. The price is now at the 13.07% retracement level.
 Daily Technical Indicators: [See XLE 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 Lane's Stochastic help.
The daily MACD line is below its signal line since March 8, 2023. This is an indication that the short-term trend is down.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
87.68 |
| High Date |
03/03/2023 |
| Low |
75.36 |
| Low Date |
03/16/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
87.68 |
| High Date |
03/03/2023 |
| Low |
75.36 |
| Low Date |
03/16/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Broken Support |
| Resistance |
86.88 |
| Support |
80.04 |
| High |
93.15 |
| High Date |
01/26/2023 |
| Low |
75.36 |
| Low Date |
03/16/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
94.71 |
| High Date |
11/14/2022 |
| Low |
75.36 |
| Low Date |
03/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
22.88 |
| Low Date |
03/18/2020 |
| High |
94.71 |
| High Date |
11/14/2022 |
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