The Greedy Trader Weekly Analysis
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- 1/15/2021 -
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Energy Select Sector SPDR (XLE)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range and Lane's Stochastic are overbought
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It was a second positive week after 3 consecutive negative weeks for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 1.33 points, or 3.21%, and closed at 42.75 on Friday, January 15, 2021. Weekly volume was 17% above average.

Long-term trend: [See XLE long-term trend chart]
A long-term downtrend had started on May 22, 2018 at 79.42 and reached 22.88 on March 18, 2020. XLE lost 56.54 points, or 71.19%, in 95 weeks. The price is now at the 35.14% retracement level.

Medium-term trend: [See XLE medium-term trend chart]
A medium-term uptrend had started on October 29, 2020 at 26.98 and reached 45.00 on January 14, 2021. XLE gained -18.02 points, or -66.79%, in 11 weeks. The price is now at the 12.49% retracement level.

Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 6, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See XLE short-term trend chart]
A short-term uptrend had started on December 21, 2020 at 37.02 and reached 45.00 on January 14, 2021. XLE gained -7.98 points, or -21.56%, in 24 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 38.48 and resistance is at 45.44. 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 short-term trend.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since January 6, 2021. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.94
Williams' Percentage Range (W%R) 16.40
Overbought
Lane's Stochastic (%D-Slow) 88.65
Overbought
Greed/Fear Indicator (GFI) 81.39
Overbought
Moving Average Converg./Diverg. (MACD) 1.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.07
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 84.38
Overbought Bearish
Greed/Fear Indicator (GFI) 79.83
Moving Average Converg./Diverg. (MACD) -0.72 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 45.44
Upper Bollinger Band 45.12
Daily Stochastic Crossing 44.32
Weekly Stochastic Crossing 43.26
Price 42.75
Parabolic System 41.38
20 Day Moving Average 40.03
Weekly Trendline Support 38.48
50 Day Moving Average 38.14
Lower Bollinger Band 36.24
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.00
High Date 01/14/2021
Low 42.33
Low Date 01/15/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 45.44
Support 38.48
Low 37.02
Low Date 12/21/2020
High 45.00
High Date 01/14/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.98
Low Date 10/29/2020
High 45.00
High Date 01/14/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.42
High Date 05/22/2018
Low 22.88
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 101.52
High Date 06/23/2014
Low 22.88
Low Date 03/18/2020
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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