The Greedy Trader Weekly Analysis
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Quarterly Price vs. Fibonacci:Near 50.0% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineRelative Strength Index bearish divergence
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It was a ninth consecutive positive week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO gained 4.97 points, or 4.65%, and closed at 111.94 on Friday, April 5, 2024. Weekly volume was 159% 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 112.33 on April 5, 2024. IEO gained -35.08 points, or -45.41%, in 55 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 91.15 and resistance is at 114.74. 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 112.33 on April 5, 2024. IEO gained -25.49 points, or -29.35%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (101.21) 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 IEO 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 February 23, 2024. 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 IEO short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 89.69 and reached 112.33 on April 5, 2024. IEO gained -22.64 points, or -25.24%, in 60 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (106.63) 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 short-term trend.

Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily 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 daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index 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 24, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.73
Overbought Bearish
Williams' Percentage Range (W%R) 5.40
Strong Overbought
Lane's Stochastic (%D-Slow) 95.89
Strong Overbought
Greed/Fear Indicator (GFI) 93.08
Strong Overbought
Moving Average Converg./Diverg. (MACD) 3.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.24
Overbought
Williams' Percentage Range (W%R) 3.20
Strong Overbought
Lane's Stochastic (%D-Slow) 96.65
Strong Overbought
Greed/Fear Indicator (GFI) 87.84
Overbought
Moving Average Converg./Diverg. (MACD) 1.10
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 114.74
Upper Bollinger Band 112.92
Daily Stochastic Crossing 111.99
Price 111.94
Weekly Stochastic Crossing 111.83
Parabolic System 108.89
Weekly Trendline Support 106.63
20 Day Moving Average 104.75
Weekly Trendline Resistance 101.72
Monthly Trendline Support 101.21
Monthly Trendline Resistance 98.58
50 Day Moving Average 98.17
Lower Bollinger Band 97.12
Quarterly Trendline Support 91.15
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 104.05
Low Date 03/27/2024
High 112.33
High Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 101.72
Support 106.63
Low 89.69
Low Date 02/05/2024
High 112.33
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 98.58
Support 101.21
Low 86.84
Low Date 01/18/2024
High 112.33
High Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 114.74
Support 91.15
Low 77.25
Low Date 03/16/2023
High 112.33
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.63
Low Date 03/18/2020
High 112.33
High Date 04/05/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.