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Archive
- 4/5/2024 -
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SPDR Oil & Gas Exploration & Production (XOP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a ninth consecutive positive week for the SPDR Oil & Gas Exploration & Production (XOP). During the week, the XOP gained 5.66 points, or 3.65%, and closed at 160.59 on Friday, April 5, 2024. Weekly volume was -18% below average.
 Long-term trend: [See XOP long-term trend chart]
A long-term uptrend had started on August 19, 2021 at 71.48 and reached 170.62 on June 8, 2022. XOP gained -99.14 points, or -138.70%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (128.53) 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 long-term trend.
Medium-term trend: [See XOP medium-term trend chart]
A medium-term downtrend had started on November 14, 2022 at 161.42 and reached 114.16 on March 16, 2023. XOP lost 47.26 points, or 29.28%, in 17 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (129.77) 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. XOP 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 XOP weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 23, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See XOP short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 128.10 and reached 161.13 on April 5, 2024. XOP gained -33.03 points, or -25.78%, in 60 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (153.25) 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 XOP 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. 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. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since January 25, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
149.67 |
| Low Date |
03/27/2024 |
| High |
161.13 |
| High Date |
04/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Broken Resistance |
| Resistance |
157.86 |
| Support |
153.25 |
| Low |
128.10 |
| Low Date |
02/05/2024 |
| High |
161.13 |
| High Date |
04/05/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Resistance |
| Resistance |
146.28 |
| Support |
153.51 |
| Low |
126.59 |
| Low Date |
01/18/2024 |
| High |
161.13 |
| High Date |
04/05/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
149.94 |
| Support |
129.77 |
| High |
161.42 |
| High Date |
11/14/2022 |
| Low |
114.16 |
| Low Date |
03/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
146.92 |
| Support |
128.53 |
| Low |
71.48 |
| Low Date |
08/19/2021 |
| High |
170.62 |
| High Date |
06/08/2022 |
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