The Greedy Trader Weekly Analysis
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SPDR Oil & Gas Equipment & Services
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance line
Daily :Bearish Three Black Crows CandlestickRelative Strength Index oversoldLane's Stochastic is strongly oversoldStochastic has raised above the signal lineThe Bollinger Bands are historically far apart
Move cursor over the icon to see details.

It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES dropped -2.10 points, or -12.38%, and closed at 14.86 on Friday, February 09, 2018. Weekly volume was 129% above average.

Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on July 1, 2014 at 49.63 and reached 12.62 on January 20, 2016. XES lost 37.01 points, or 74.57%, in 81 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (12.98) is broken. A broken support is considered to be a long-term bullish signal. 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 XES medium-term trend chart]
A medium-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 Symmetric Triangle chart pattern. The trend support level is at 16.80 and resistance is at 14.61. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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 Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since September 8, 2017. 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 January 16, 2018 at 19.29 and reached 14.28 on February 9, 2018. XES lost 5.01 points, or 25.97%, in 24 days. The price is now at the 11.58% retracement level.

Daily Technical Indicators: [See XES daily technical indicators chart]
Daily Relative Strength Index is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 18, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (34.19%) is close to one year high (27.94%). It is 130.20% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.

Candlestick pattern: [See XES candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 11.92
Oversold
Williams' Percentage Range (W%R) 79.60
Lane's Stochastic (%D-Slow) 9.28
Strong Oversold
Greed/Fear Indicator (GFI) 13.85
Oversold
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.13
Williams' Percentage Range (W%R) 79.60
Lane's Stochastic (%D-Slow) 68.31
Greed/Fear Indicator (GFI) 44.93
Moving Average Converg./Diverg. (MACD) 0.15
Trading Signals
Description Value Chart
Upper Bollinger Band 19.63
20 Day Moving Average 17.68
Weekly Stochastic Crossing 17.36
50 Day Moving Average 17.15
Quarterly Trendline Support 16.80
Parabolic System 16.26
Price 14.86
Daily Stochastic Crossing 14.68
Quarterly Trendline Resistance 14.61
Lower Bollinger Band 14.55
Yearly Trendline Support 12.98
Yearly Trendline Resistance 12.74
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 19.29
High Date 01/16/2018
Low 14.28
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.90
Low Date 11/15/2017
High 19.29
High Date 01/16/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.90
Low Date 08/21/2017
High 19.29
High Date 01/16/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 14.61
Support 16.80
High 24.58
High Date 12/12/2016
Low 12.90
Low Date 08/21/2017
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 12.74
Support 12.98
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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