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Select Sector SPDR ETFs Technical Analysis - XESArchive - 3/15/2024 - Sign In to see current Signals. |
SPDR Oil & Gas Equipment & Services (XES) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a sixth consecutive positive week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gained 3.95 points, or 4.62%, and closed at 89.53 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was 7% above average. Long-term trend: [See XES long-term trend chart] A long-term uptrend had started on August 19, 2021 at 44.96 and reached 100.81 on September 12, 2023. XES gained -55.85 points, or -124.22%, in 107 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 59.37 and resistance is at 107.13. 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 XES medium-term trend chart] A medium-term downtrend had started on September 12, 2023 at 100.81 and reached 76.08 on January 17, 2024. XES lost 24.73 points, or 24.53%, in 18 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (75.41) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XES may retest the broken resistance line. It is considered to be a support line now. 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 XES weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help. Short-term trend: [See XES short-term trend chart] A short-term uptrend had started on February 5, 2024 at 76.65 and reached 90.18 on March 15, 2024. XES gained -13.53 points, or -17.65%, in 39 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 84.75 and resistance is at 91.09. 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 short-term trend. Daily Technical Indicators: [See XES daily technical indicators chart] Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 link to access Lane's Stochastic help. The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish 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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