The Greedy Trader Weekly Analysis
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Archive
- 7/6/2018
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SPDR Oil & Gas Equipment & Services
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Summary:
Weekly :Weekly  MACD line has moved below its signal lineTrend resistance at 16.99
Daily :The Bollinger Bands are historically close together
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It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES gave back -0.05 points, or -0.29%, and closed at 16.91 on Friday, July 06, 2018. Weekly volume was 32% above average.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on December 12, 2016 at 24.58 and reached 12.90 on August 21, 2017. XES lost 11.68 points, or 47.52%, in 36 weeks. The chart has formed a Falling Pennant chart pattern. The price is near the trend resistance line (16.99). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See XES medium-term trend chart]
A medium-term uptrend had started on April 2, 2018 at 13.88 and reached 19.19 on May 22, 2018. XES gained -5.31 points, or -38.26%, in 7 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 16.60 and resistance is at 16.97. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern 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 below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See XES short-term trend chart]
A short-term downtrend had started on May 22, 2018 at 19.19 and reached 16.03 on June 15, 2018. XES lost 3.16 points, or 16.47%, in 24 days. The price is now at the 27.85% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since June 26, 2018. The distance between MACD and the signal line is low and getting smaller.

The distance between the Bollinger Bands (6.62%) is close to one year low (7.19%). It is 57.89% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.10
Williams' Percentage Range (W%R) 66.90
Lane's Stochastic (%D-Slow) 47.60
Greed/Fear Indicator (GFI) 46.61
Moving Average Converg./Diverg. (MACD) -0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.40
Williams' Percentage Range (W%R) 49.70
Lane's Stochastic (%D-Slow) 32.05
Greed/Fear Indicator (GFI) 45.14
Moving Average Converg./Diverg. (MACD) 0.22
Trading Signals
Description Value Chart
Upper Bollinger Band 17.38
50 Day Moving Average 17.27
Quarterly Trendline Resistance 16.99
Weekly Trendline Resistance 16.97
Price 16.91
Weekly Stochastic Crossing 16.81
20 Day Moving Average 16.69
Daily Stochastic Crossing 16.69
Weekly Trendline Support 16.60
Parabolic System 16.37
Lower Bollinger Band 16.25
Quarterly Trendline Support 14.31
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 19.19
High Date 05/22/2018
Low 16.03
Low Date 06/15/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Valid
Resistance 16.97
Support 16.60
Low 13.88
Low Date 04/02/2018
High 19.19
High Date 05/22/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 19.29
High Date 01/16/2018
Low 13.88
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Test Resistance
Resistance 16.99
Support 14.31
High 24.58
High Date 12/12/2016
Low 12.90
Low Date 08/21/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 49.63
High Date 07/01/2014
Low 12.62
Low Date 01/20/2016
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.

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