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Uptrend Broken SupportArchive - 5/10/2024 - 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 a first positive week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO climbed 0.24 points, or 0.23%, and closed at 103.56 on Friday, May 10, 2024. Weekly volume was -37% below 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 92.46 and resistance is at 115.01. 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 price is now at the 35.39% retracement level. Weekly Technical Indicators: [See IEO weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since February 23, 2024. This is an indication that the medium-term trend is up. 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 101.58 on May 1, 2024. IEO lost 11.14 points, or 9.88%, in 19 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 99.55 and resistance is at 106.16. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend. Daily Technical Indicators: [See IEO daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
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