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Williams' Percentage Range (W%R) |
Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive - 4/5/2024 - 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 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.
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