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Advanced TA SearchArchive
- 4/26/2024 -
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Energy Select Sector SPDR (XLE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE climbed 0.77 points, or 0.81%, and closed at 95.74 on Friday, April 26, 2024. Weekly volume was -27% below average.
 Long-term trend: [See XLE long-term trend chart]
A long-term uptrend had started on March 16, 2023 at 75.36 and reached 98.97 on April 12, 2024. XLE gained -23.61 points, or -31.33%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.16 and resistance is at 102.49. 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 XLE medium-term trend chart]
A medium-term uptrend had started on January 18, 2024 at 78.98 and reached 98.97 on April 12, 2024. XLE gained -19.99 points, or -25.31%, in 12 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (97.38) 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 XLE weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, 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 February 16, 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 XLE short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 93.46 and reached 96.92 on April 25, 2024. XLE gained -3.46 points, or -3.70%, in 8 days. The price is now at the 34.10% retracement level.
 Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since April 11, 2024.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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